Property

Question 1

What are the three forms of concurrent ownership in land?

Answer 1

Joint tenancy
Tenancy in common
Tenancy by the entirety

Question 2

What is joint tenancy?

Answer 2

In a joint tenancy each co-tenant owns an undivided share of the property with right of survivorship.

Question 3

What are the four unities required to create a joint tenancy?

Answer 3

1. Time
2. Title
3. Interest
4. Possession

Question 4

What is tenancy in common?

Answer 4

A concurrent estate without a right of survivorship.

Question 5

What is tenancy by the entirety?

Answer 5

A marital estate akin to joint tenancy (with marriage being the fifth unity) where the spouse has the right of survivorship.

Question 6

What is the implied covenant of marketability?

Answer 6

The seller is obliged to provide the buyer with title that is reasonably free from doubt (encumbrances).

Question 7

The burden of a covenant runs with the land when:

Answer 7

To be bound: (i) the parties must have intended that the covenant run with the land; (ii) the original parties must have been in horizontal privity; (iii) the succeeding party must be in vertical privity with the original promisor; (iv) the covenant must touch and concern the land; and (v) generally, the burdened party must have actual or constructive notice of the covenant.