Joint Tenancy

Question 1

Joint Tenancy

Answer 1

• makes clear expression of intent to create a joint tenancy
• uses right of survivorship language
• four unities:
  1. Posession: each joint tenant must have equal right to posses and enjoy the whole property
  2. Interest: each joint tenant must have equal share of the same type of interest
  3. Time: joint tenants must receive their property interest at the same time
  4. Title: joint tenants must receive their property interest in the same instrument of title

Question 2

Severance

Answer 2

a joint tenancy can be severed in 4 ways
1. by giving it away during life
2. by signing a contract for sale
3. by actual judicial sale by a jugment lien creditor
4. by granting a mortage in a title theory state (does not terminate in a lien theory state)