Concurrent Estates

Question 1

Tenancy in Common

Answer 1

In a tenancy in common, property owners:

• each have an equal right to possess the entire property
• each have separate interests in the property, which can be unequal (i.e. 20-30-50)
• there is no right of survivorship (meaning upon death, the shares are not given to the other owners)
• each can alienate the property, and pass it down through devise or intestate succession.

Question 2

Joint Tenancy

Answer 2

In a joint tenancy, the property owners have the right of survivorship (meaning upon death the property goes to the other owners) and the four unities aka PITT:

• equal rights to POSSESS the entire property
• undivided and equal INTEREST in the property (i.e. 25-25-25-25 or 50-50)
• the interests were created at the same TIME
• the interests were created by the same TITLE/instrument
• each tenant can alienate their land, but in doing so, they sever the tenancy and the party they sell it to becomes a tenant in common with the other joint tenants.

Question 3

Joint Tenancy by the Entirety

Answer 3

This is a joint tenancy between spouses.

In a joint tenancy, the property owners have the right of survivorship (meaning upon death the property goes to the other owners) and the four unities aka PITT:

• equal rights to POSSESS the entire property
• undivided and equal INTEREST in the property (i.e. 25-25-25-25 or 50-50)
• the interests were created at the same TIME
• the interests were created by the same TITLE/instrument
• tenants can only alienate their land with consent from their spouse. If they do so, it severs the tenancy and it becomes a tenancy in common with the third party grantee.

Question 4

Outster

Answer 4

In tenancies in common and joint tenancies, each party has an equal right to possess the entire property. An ouster occurs when one tenant refuses to let another access part of the property.

Question 5

Necessary property expenses

Answer 5

A co-tenant who pays necessary property expenses may collect reimbursement from other co-tenants (i.e. taxes, mortgage)

Question 6

Property repairs

Answer 6

A co-tenant who pays for repairs on the property may not collect reimbursement from other co-tenants.

If the land is partitioned or sold, however, they may be reimbursed for their contribution to repairs.

Question 7

Cost of improvements

Answer 7

A co-tenant who pays for improvements to the property may not collect reimbursement from other co-tenants.

If the land is partitioned or sold, however, they may be reimbursed for their contribution to improvements.

Question 8

Rent

Answer 8

Co-tenants can rent to third parties and when they do so, must split cost of rent amongst co-tenants. However, they can deduct costs for repairs from rent expenses.

Question 9

What is a partition? What are the types of partitions?

Answer 9

This is when a property with co-tenants is divided, either voluntarily or by a court.

A partition in kind occurs when the property is divided up between co-tenants.

A partition by sale occurs when the entire property is sold and the co-tenants divide the profits. This will occur if partition in kind is not practical or is not fair.