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Property Law > Concurrent Ownerships > Flashcards

Concurrent Ownerships Flashcards

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0
Q

Tenants in common

Type of concurrent estate

A

To john & Jane and their heirs

Each party holds. 1/2 UNDIVIDED INTEREST

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1
Q

Concurrent estate

A

When two or more people hold title to the same estate

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2
Q

When on of tenants in common dies who takes prop?

A

Devisees or heirs

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3
Q

Can party of ten in common transfer interest without consent of another?.

A

Yes

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4
Q

What if one ten in common disagrees on management of prop?

A

It is partitioned

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5
Q

Can just using word jointly create a joint tenancy?

A

No need more. Jointly just means two people together.

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6
Q

To jane & john and their heirs w/ right of survivorship

A

Joint tenancy created

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7
Q

Joint tenancy

A

Each party holds a 1/2 interest with right if survivorship
Automatic process if one idea, other owns 100%
Each party can convey interest w/out consent of other
If can’t agree partitioned

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8
Q

Four fold unities

A 
Unity of:
Interest
Title
Time
Possession
PITT
Single entity created, if any violatin then defaults to ten. in common
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9
Q

Unity if interest

A

Each tenant owns an equal share

If 3,,,1/3, etc

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10
Q

Unity of title

A

One document, same conveyance

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11
Q

Unity of time

A

Each tenant vested at same time

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12
Q

Unity if possession

A

Usu. forms the problem.

Each tenant is seized if the entire estate.

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13
Q

Types of partition

A

By sale or in kind

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14
Q

In kind

A

Land is physically spli

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15
Q

Tenancy by entirety

A 
5th fold unity
Married only
Com law-husband control
Today, joint control
Need each other permission
If one owns debt if in ten entirety can't be seized .(unless creditor of both parties
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16
Q

Partition rights with tenancy by entirety?

A

No

Only divorce gets rid of it.

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17
Q

To john et aux

A

Tenancy by entirety

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18
Q

Curtesy

A

Husband gets a life estate on wife’s real estate when a child is born

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19
Q

Dower

A

Wife gets a life estate in 1/3 of husbands real estate if she survives him

Minority rule

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20
Q

Election

A

Some states call a dower right. Get to chose what he owned w/in any part of marriage.
If give up dower rts surrender , take on will or intestate statute rights (most rather want this)

21
Q

Homestead

A

Allows family prevent creditors from seizing a home. (Not mortgage co. Creditors, other)
Mass…must be a value above 500,000.

22
Q

Community property

A

System used mostly in west. To control ownership of property obtained during marriage.

  • prop owned b4 marriage remains his/hers
  • prop acq durin-both
23
Q

Right of survivorship must be clearly expressed

A

Or you get a ten in com on FSA

Or ten in common in life estate w/cont remainder in FSA inthe SURVIVOR.

24
Q

Is a mortgage a lien?

A

Yes by maj rule.
If there a foreclosure legal title will be conveyed.
Is mortgage paid off lien is extinguished

25
Q

Lien

A

A security device, does NOT constiture a conveyance of land.

26
Q

Minority rule mortgage

A

IS A CONVEYANCE of an estate.
Of defeasible title to the bank
Fee holder maintains equity of redemption
Foreclosure then redempt is extinguished
Paid off then reconveyed from bank to fee holder

27
Q

Manic words for Joint tenancy

A

Right of survivorship

28
Q

To john & Jane,

Husband & wife, & their heirs

A

Maj rule-ten in comm in FSA

Min- ten by entirety in FSA

29
Q

Tenants by the Entirety as Joint Tenants
“To John & Jane, husband & wife, as tenants by the entirety and
to Sam & Susan, husband & wife, as tenants by the entirety, as
joint tenants with the right of survivorship

A

Only if the four-fold unities are satisfied
-Unity of interest
Satisfied as each tenancy by the entirety holds the entire estate
- Unity of Title
Satisfied as each tenancy by the entirety received its interest in the same
conveyance
- Unity of Time
Satisfied as each tenancy by the entirety vested upon conveyance
-Unity of Possession
Satisfied as each tenancy by the entirety is seized of the same estate
Conclusion: tenants by the entirety can be joint tenants

30
Q

Tenants in Common as Joint Tenants
“To Jane & John as tenants in common and to Sally & Sam
as tenants in common, as joint tenants with the right of
survivorship”

A

Only if the four-fold unities are satisfied
& Unity of interest?
< Satisfied as each tenant in common holds the entire estate
& Unity of Title?
< Initially satisfied as each tenant in common received her interest in the
same conveyance, but broken as soon as the first cotenant dies
& Unity of Time?
< Same as unity of title — broken as soon as the first cotenant dies
& Unity of Possession?
< Satisfied as each tenant in common is seized of the same estate
& Conclusion: tenants in common cannot be joint tenants

31
Q

Jackson v. O’Connell

A

Nellie Conveys Her a to Anna:
-Anna now holds a as a tenant in common
Anna & Katherine hold b as joint tenants
anna dies:
Anna’s two interests go to different people:
Katherine gets the a that is held in the joint tenancy
Nieces get the a that is held in the tenancy in common

32
Q

To John & Jane, not as tenants in common but

as joint tenants with the right of survivorship?

A

Joint tenancy

33
Q

To John & Jane for their joint lives, remainder

in the survivor of them?

A

Tenants in common in a life estate with a contingent
remainder in the survivor
< Grantor has a reversion

34
Q

can contingent remainders be conveyed using a quitclaim deed?

A

no

35
Q

Palmer v. Flint

A

Unto the said Nathan H. Palmer and Alice E.
Palmer as joint tenants, and not as tenants in
common, to them and their assigns and to the
survivor, and the heirs and assigns of the survivor
forever” p. 395, ¶ 3
She is claiming that the deed from the Federal
Land Bank conveyed a life estate followed by a
contingent remainder in the survivor instead of a
joint tenancy in fee simple absolute
Consequently, as the conveyance to Nathan was
by quitclaim deed, the contingent remainder did
not transfer to him; instead, it became possessory
when Alice survived Nathan

36
Q

in tenancy by entirety

A

creditor will attach survivorship right but only worth it if spouse in debt survives

37
Q

If the non-mortgagor cotenant dies first, (lien state)

after death of jt. ten

A

the

value of the mortgage security increases

38
Q

If the mortgagor cotenant dies first(lien state)

aftr death of jt. ten.

A

The mortgage security is extinguished
& A remedy is usually still available, however, as a
claim can be made against the mortgagor’s estate

39
Q

As soon as a mortgage is granted, the four-fold
unities have been broken (title state)
after death of jt tent

A

As soon as a mortgage is granted, the four-fold
unities have been broken
Title — Cotenant and Bank got their interests in
different documents
Time — Cotenant vested at original conveyance;
Bank vested when the mortgage was granted
As the unities are broken, the joint tenancy is
severed and the cotenancy is transformed into
a tenancy in common

40
Q

is mass a title state?

A

yes

41
Q

how to sever a joint tenancy?

A

Establish the intent that the survivorship
should terminate
- Conveyance
- Killing, or attempting to kill, the cotenant

42
Q

how cotenants define rules/relat/obligations btwn themselves

A

contract

if none, law normative rules will apply

43
Q

if one cotenant pays more than her portion of share what happens?

A

she is entitled to contribution
from the other cotenants
*any expense common to entire estate

44
Q

do cotenants owe each other a fiduciary duty

A

yes
*does not apply to charges
that are against a cotenant’s share rather than
against the entire estate

45
Q

A house is held by two tenants in common, John and Jane. John occupies the house.

A

Jane is not entitled to anything — a cotenant is
not obligated to pay the other cotenants rent
for occupying the premises as all cotenants
have a co-equal right of possession
‘ If, however, one cotenant prevents another
from also possessing the property, damages
for “ouster” are owed

46
Q

“accounting

A

ct apts a special master (usu a CPA) will determine if expenses paid & profits recieved are out of balance

47
Q

right to partition

A

Joint ten & ten in common

can be surrendered

48
Q

intent to surrendor right to partition

A

only for a reas. period of timen (if violates RAP then unreas by def)
-must be clearly stated in writing
-The court might not enforce the agreement if circumstances
between the parties have changed
significantly enough to make enforcement unjust

49
Q

paritioning a FUTURE INTEREST

A

The court might not enforce the agreement if circumstances
between the parties have changed
significantly enough to make enforcement unjust
(Also, from a practical perspective, as you cannot split
a future interest in kind, is it likely that anyone would
buy the future interest at auction?)

50
Q

private partition

A

best way: sell prop & split

avoids costly litigation

Property Law (16 decks)

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