Co-ownership Flashcards
Joint tenancy
Where both the legal and the equitable title in the property are owned collectively as a whole by all owners.
Tenancy in common
The legal title is owned collectively as a whole by all owners but the equitable title can be owned in equal or unequal shares.
JT- The four unities
Parties have the four unities:
Unity of possession
Unity of interest
Unity of title
Unity of time
The right of survivorship
If one co-owner dies, the ownership automatically passes over to the remaining joint tenants. It will take over any expressed wishes in a deceased’s will. Where both co-owners die and it cannot be established who died first, the law will assume the eldest died first and so would pass under their will.
The doctrine of survivorship will always apply to the legal title.
Severance of joint tenancies
A) by written notice
B) by operating on a parties own share
C) by mutual agreement
D) my mutual conduct
E) forfeiture following unlawful killing
Remember - only the equitable share can be severed
By written notice
It must be in writing
Intention to sever must be immediate
There must be evidence it has been delivered
It does not need to be read by the other co-owner
Joint tenant operating on their own share
One of the co-owners has done something that indicates they do not wish to have an individual share (I. E selling or giving away their equitable interest)
By mutual agreement
Does not need to be in writing - may be express or implied
By mutual conduct
Inconclusive negotiations to sell one co-owners share and physical division of land will not amount to severance unless it is clear that is what parties intended.
Solving disputes between co-owners under TOLATA 1996
