concurrent estates in land

Question 1

tenancy in common

Answer 1

estate with multiple tenants in which each co-tenant owns a distinct, undivided interest and each has a right to possession of the whole estate

freely transferable; no survivorship rights (upon death of a co-tenant, her interest doesn’t pass to remaining co-tenants)

Question 2

joint tenancy creation conditions

Answer 2

1) JTs take interests at the same time
2) JTs receive conveyance thru same instrument
3) JTs take equal and identical interests
4) JTs have equal possessory rights

Question 3

joint tenancy right of survivorship

Answer 3

if one JT dies, surviving JTs automatically take equal possession of deceased JT’s share

Question 4

joint tenancy transferability

Answer 4

a JT becomes a tenancy in common upon transfer; does not destroy the entire JT if two or more JTs remain

Question 5

tenancy by the entirety

Answer 5

marital estate, similar to JT but between a married couple; created by conveyance to a married couple and requires same 4 conditions as a JT (time, title, interest, possession)

Question 6

tenancy by the entirety characteristics

Answer 6

right of survivorship, no right to convey/partition, protected from creditors of just one spouse

Question 7

ways to sever tenancy by the entirety

Answer 7

1) death of one co-tenant
2) issuance of a divorce decree
3) execution by a joint creditor (e.g., foreclosure)

severance creates a tenancy in common

Question 8

co-tenants’ rights

Answer 8

1) right to possess the whole
2) not required to pay rent/reimburse co-tenants for tenant’s use of land
3) right to share in rents from third parties and profits derived from use of land that depletes its value
4) contribution from co-tenants for reasonable repairs
5) judicial partition
6) credit for an increase in value attributable to improvements