Real Property Flashcards
An estate in land can be held ____ by several persons, all of whom have the right to enjoyment and possession of the land.
concurrently
There are three forms of concurrent ownership:
- The Joint Tenancy
- The Tenancy by the Entirety
- The Tenancy in Common
The Joint Tenancy
Two or more own with the right of survivorship
The Tenancy by the Entirety
A protected marital interest between spouses with the right of survivorship (recognized in 21 states)
The Tenancy in Common
Two or more own without the right of survivorship
A joint tenancy’s distinguishing feature is the ____
right of survivorship.
A joint tenant’s interest is alienable ____
inter vivos.
A joint tenant’s interest is neither ____
devisable nor descendible
Joint tenancy property doesn’t become part of the deceased joint tenant’s ____, and an executor or administrator has ____ in the property.
estate; no interest
A joint tenant’s attempt to dispose of the property by will is ____
void.
The common law requires four unities to form a joint tenancy:
T-TIP
- T: at the same time;
- T: by the same title (meaning, in the same deed, will, or other document of title);
- I: with identical, equal interests; and
- P: with rights to possess the whole
All interests in a joint tenancy must be ___ shares
equal
In a tenancy in common, by contrast, equal shares are
___, but are not ____
presumed; required
In addition to the four unities at CL, to create a joint tenancy the grantor must clearly express the ____
right of survivorship.
A conveyance to two or more persons, without more (language stating right of survivorship), is presumed to be a ____
tenancy in common.
The circumstances, a joint tenancy will be severed and a tenancy in common results
SAP
- Severance and Sale
- Severance and Partition
A voluntary conveyance by a joint tenant of their interest ____
destroys the joint tenancy.
-> The transferee takes as a tenant in common.
May a joint tenant transfer his interest secretly?
Yes! Don’t need consent
If we started with more than two joint tenants in the first place,
remember, the joint tenancy ____ as between the other, non-transferring joint tenants.
remains intact
Types of partition:
- By voluntary agreement
- By judicial action called partition in kind
- By judicial action called a forced sale
Judicial action called partition in kind
An action for a physical division of the property, if in the best interests of all parties
An allowable and peaceful way to end the JT relationship.
By voluntary agreement
When would a partition in kind work best?
When blackacre is “sprawling acreage”
By judicial action called a forced sale
An action when, in the best interests of all parties, the land is sold and the sale proceeds
are divided up proportionately.