Co-ownership of land Flashcards

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1
Q

What do co-owners of a legal estate always own land as in England and Wales?

A

Joint tenants

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2
Q

Joint tenants each own an ________ and _____ interest in the ______ of the property

A

undivided, equal, whole

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3
Q

Joint tenancy includes a right of ….

A

survivorship

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4
Q

Under the doctrine of survivorship, the deceased’s interest is _________ ______ in any joint tenant still ________.

A joint tenant subsequently can’t leave their share to someone in their ____

A

automatically vested, living, will

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5
Q

What is the maximum no. of legal owners/joint tenants and what is the minimum age?

A

No. - 4
Age - 18

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6
Q

Whenever land is owned by more than 1 person, a ______ of land automatically arises, and the co-owners have the behind-the-scenes _________ _________ interests in the property

A

trust, beneficial equitable

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7
Q

What are 2 ways equitable interests can be held?

A
  1. Joint tenancy
  2. Tenants in Common
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8
Q

Tenants in common own _________ interests, but these will not necessarily be _______

A

undivided, equal

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9
Q

Is there a right of survivorship in a tenancy in common? What is the effect of this?

A

No - a TIC can leave their interest to someone in their will

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10
Q

How is the behind-the-scenes beneficial interest usually evidenced for registered land?

A

Form A restriction on the Proprietorship register

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11
Q

What does a declaration of trust set out?

A

The agreement between co-owners as to how beneficial interest is to be held

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12
Q

Is a declaration of trust conclusive, meaning it applies irrespective of initial financial contributions between the parties?

A

Yes

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13
Q

What is a severance of joint tenancy?

A

Where a co-owner(s) convert their equitable interests from a joint tenancy to a tenancy in common

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14
Q

What are four ways to sever a joint tenancy?

A
  1. Notice in writing
  2. Treating their share as separate
  3. Form A restriction - agreement/notice
  4. Bankruptcy of a JT
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15
Q

What will a court presume if the intention of co-owners as to how they hold their beneficial interest is unclear?

A

That the beneficial interests are the same as the legal interest in the property (and so is a joint tenancy = undivided and equal)

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16
Q

What is overreaching?

A

Where purchase money from a buyer is paid to at least 2 trustees, the buyer will take the property free of the behind-the-scenes beneficiaries’ interest. The interest detaches from the land and attaches to the purchase money

17
Q

Courts have held that where a mortgage advance is paid to two registered proprietors, payment has been made to two ______ and the interest of the behind-the-scenes beneficiaries will be __________.

A

trustees, overreached

18
Q

If property is owned in the name of one party but there is someone else living at the property who has an interest in the property (e.g. a spouse who has contributed to the purchase price), courts are willing to allow the non-owning occupier to stay in ________ of the property, thus defeating the mortgagee’s ability to _________.

A

occupation, repossess

19
Q

If co-owners cannot agree how or when to dispose of a property, what can a trustee/person with an interest in property subject to a trust (including co-owners) do?

A

Apply to the court for an order to sell

ss14 and 15 TLATA 1996 permit this.