Topic 2: Co-ownerships of Land EXAM

Question 1

What type of interests do the trustees and the beneficiaries hold in land?

Answer 1

Trustee = Legal interest, Beneficiary = Equitable interest

Question 2

What are the two types of co-ownership splits?

Answer 2

Joint tenancy and Tenancy in Common

Question 3

What is a Joint tenancy?

Answer 3

Where all the co-owners own the property collectively, nobody owns a specific share, everybody owns 100% together

Question 4

What is a Tenancy in Common?

Answer 4

Where individual shares are allocated to each owner (e.g. 75% for person A and 25% for person B)

Question 5

What are the four unities of Joint tenancy?

Answer 5

Unity of Possession, Interest, Title, and Time

Question 6

What is the single unity of Tenancy in Common?

Answer 6

ONLY unity of Possession

Question 7

What is the concept of survivorship for both joint tenancy and tenancy in common?

Answer 7

JT = Can’t leave shares in wills as everybody owns 100%, TiC = Shares can be left in wills (If there is issue of who died first the older one will be assumed to have died first)

Question 8

What is the maximum amount of joint tenants in a legal Joint Tenancy?

Answer 8

A maximum of 4

Question 9

What legal co-ownerships can exist?

Answer 9

ONLY Joint Tenancy

Question 10

What equitable co-ownerships can exist?

Answer 10

BOTH Joint Tenancy and Tenancy in Common

Question 11

What is the maximum amount of joint tenants in an equitable Joint Tenancy?

Answer 11

Unlimited, any amount

Question 12

What is the principle of Severance?

Answer 12

The process by which an equitable Joint Tenancy is converted into an equitable Tenancy in Common

Question 13

What are the statutory methods of severance?

Answer 13

LPA 1925, s36(2), (3), and (4) = Notice to others in writing, note must be left at correct place (If by post make it say correct names, addresses, and deliverability)

Question 14

What are the common law methods of Severance?

Answer 14

1. Acting on one’s own share 2. Mutual agreement 3. Course of dealing/mutual conduct

Question 15

What are the four types of finding equitable/beneficial interests?

Answer 15

1. Expressed trusts 2. Resulting (Implied) trusts 3. Constructive trusts 4. Proprietary estoppel

Question 16

How are express trusts quantified? And what are the issues surrounding them?

Answer 16

Whatever is stated in the trust will apply (if it says 40-60 then that’s that) (If nothing is mentioned it will be split 50-50), issues exist with communication and that normal couples don’t talk about who owns how much

Question 17

How are resulting (implied) trusts quantified? And what are the issues surrounding them?

Answer 17

Whatever amount of total purchase price was paid is your share (no contributions thereafter count, crystallisation), issues are that it focuses purely on financial contributions to purchase/mortgage (nothing in terms of household appliances, etc.)

Question 18

If money is given as a gift to buy a house, can you claim to be a trustee?

Answer 18

NO; if the money was a gift you can’t claim to be a trustee

Question 19

What is the presumption of advancement?

Answer 19

If a man gives his wife money it is assumed he tried to advance her (he would become trustee) (Does NOT apply vice-versa)

Question 20

What are the two elements you need for Constructive trusts?

Answer 20

Common intention AND detrimental resilience

Question 21

What is ‘detrimental resilience’ in constructive trusts?

Answer 21

Something done to “significantly alter his position in reliance on the agreement” (Can’t be something a good wife would do) (Must be outside the scope of something a good wife does) (Financial contributions are evidence)

Question 22

How are ownerships quantified in Constructive trusts?

Answer 22

Always in favour of 50-50, if at the time of purchase the intention was different then that applies, if post-acquisition then can mutually agree to change