Estates In Land Flashcards
Concurrent Estates
Tenants can share a common interest in the same piece of property through either a joint tenancy, a tenancy in common, or a tenancy by the entirety.
Joint Tenancy
A joint tenancy is formed only if the 4 unities are satisfied and there is an explicitly stated right of survivorship. The 4 unities are 1) Equal Possession, 2) Equal Interests, 3) Received at the Same Time, and 4) each own a portion of the same title. Here,
Tenancy in Common
A tenancy in Common is the default tenancy with no right of survivorship. Tenants do not have to own equal interest in the property but have a right to occupy the entire property. Here,
Tenants by the Entirety
A tenancy by the entirety is similar to a joint tenancy but rather between husband and wife. Each has an undivided interest in the whole estate with the right of survivorship. Here,
Rights and Duties of Co-tenants - Possession
Each tenant has a right to the entire property. Any exclusion of one of the tenants to any part of the property would be considered an “ouster”. Here,
Rights and Duties of Co-tenants - Rent v Profits
Tenants must share all revenue created by rent to a 3rd party, but may individually keep whatever profits they make by using the property and do not have to share with the other co-tenants so long as it is not an exploitation of the property such as mining, cutting down trees, etc… Here,
Rights and Duties of Co-tenants - Repairs
Tenants must pay for their fair share of necessary repairs to the property. Tenants who pay more than his share of the repairs are entitled to contribution, if they gave the other tenants notice before making the repair. Here,
Rights and Duties of Co-tenants - Improvements
Joint tenants are NOT entitled to contribution for improvements made to the land. Here,
Rights and Duties of Co-tenants - Taxes
Contributions can be DEMANDED from all tenants for their fair share of taxes paid on the property. However, reimbursement of a joint tenant in sole possession is limited to the extent expenditures exceed rental value of use. Here,
Rights and Duties of Co-tenants - Mortgages
Contributions can be demanded from all tenants for their fair share of the mortgage, regardless of whether they are in possession or not. Here,