Shared Property

Question 1

Tenancy in Common

Answer 1

> Default form
Undivided share in the whole
Transferable and Inheritable
Can be reached by debtors

Question 2

Joint Tenancy (with right of survivorship)

Answer 2

> Magic words
Four unities
1. TIME
2. TITLE
3. INTEREST
4. POSSESSION

Question 3

1. TIME
2. TITLE
3. INTEREST
4. POSSESSION

Answer 3

1. Unity of time means that the interest is acquired by all of the tenants at the same time
   ex. two parties may recieve the joint tenancy upon a deeded transfer during the grantor’s lifetime or through an inheritance at the grantor’s death
2. unity of title means that the SAME INTSTRUMENT msut provide the joint tenants

Question 4

Tenancy by Entirety

Answer 4

> can only end in divorce