Pr1 Flashcards
**Concurrent: LIST
JT [T-TIP]
co-T
TBE
TIC
**Accounting /Contribution /Waste [PURGE exc]
Joint Tenancy (JT) issue LIST:
1) RoS
2) Creation of a JT
[T-TIP]
3) Severance of JT
[SPAM]
Severance of a JT LIST:
SALE
PARTITION
ASSIGNMENT
MORTGAGE
[S P A M]
JT RoS & ALIENABLE: +CA:
Needs survivorship language!!
1) JT has a RoSurvivorship
i.e., when 1 JT dies, his share AUTOM. goes to surviving JTs
CA: Both JTs die simultan.:
=>each Estate takes 50%
2) ALIENABLE:
JT can SELL/transfer his share INTERVIVOS.
CA: NOT Devisable /Descendib. b/c of RoS.
Severance of a JT: ASSIGNMENT
An ASSIGNMENT of rights severs a JT.
JT: Creation
[STRAWMAN:
Unlike at CL,
a re-conveyance (to O+JTs) by a Strawman is no longer necessary to have 4 unities present.]
[requires survivorship language]: 4 UNITIES [T-TIP]: JTs must: 1) take ident. INTERESTS [=equal SHARES!! +Duration ] 2) at the same TIME 3) by the same TITLE [=same instrument] 4) w/ equal right to POSSESS the WHOLE
Severance of a JT: MORTGAGE:
+CA
1) Maj.: Mortgaging Pr in a “LIEN THEORY” jx. doesNOT sever JT
[CA: MGT is FORECLOSED
(Bank gets $0 if sole Debtor dies=looses rights b/c ROS)
2) Min.: MTG in a “TITLE THEORY” jx. severs [=destroys the UNITY of] TITLE =>TIC
TBE: +Termination +CA:
[Note: conveyance as “TBE” to an UNmarried couple creates a JT.]
is a JT w/ RoS held by H&W. If "to H&W" a JT is PRESUMED. TERMIN.: 1) DEATH / Divorce 2) JOINT CREDITORS CA: of 1S => canNOT reach TBE 3) MUTUAL AGT CA: UNILAT. transfer by 1S: is void & doesNOT DEFEAT the RoS. [+unlike JT/TIC: no right to Partition]
TIC:
1) PRESUMED if conveyance 2+ Os
2) Each co-T OWNS a SEPARATE but UNDIVIDED interest, but has a right to
POSSESS the WHOLE => NO RoS.
3) Each INTEREST is Alienable.
Rights & Duties of Co-Tenants [ISSUE LIST]:
For ALL 3 forms of concurrent ownership: 1) AP VS. POSSession 2) RENT from 3Ps 3) CARRYING costs 4) WASTE 5) IMPROVEMENTS vs. Repairs 6) PARTITION [ARC-WIP]
Rights & Duties of Co-Tenants:
Possession
Ouster
+CA:
Each co-T is entitled to POSSESS & ENJOY the whole.
If WRONGFUL OUSTER:
The Co-T excluded from possession is entitled to an INJ & the FRV of the USE.
CA: MERE EXCLUSIVE POSSESSION w/o ouster
=>co-T owes no rent.
CCA: AP if cxcl. poss. for stat. period.
Rights & Duties of Co-Tenants: AP
Absent Ouster (=hostile),
mere EXCLUSIVE POSSESSION
for the statutory period is INsufficient to ACQUIRE TITLE by
ADVERSE POSSESSION
[Co-Tenants Rents to 3P]
If a Co-T LEASES
part of
the premises to a 3P …:
he must ACCOUNT for other co-T’s share of RENTAL INCOME.
Rights & Duties of Co-Tenants: E Necessary operating expenses:
each co-T is responsible for his
1) FAIR SHARE of CARRYING COSTS
2) based on his OWNERSHIP interest (UNDIVIDED share).
(i.e., TAX, MGT payments)
Think: CONTRIBUTION 4payments in excess of co-T’s share.
[Co-Tenant makes REPAIRS to Pr]
made by a co-T after giving
1) NOTICE entitles her to CONTRIBUTION for
2) REAS. & NECESSARY repairs.
CA: NO right to Reimbursement.
