Concurrent Estates

Question 1

Joint Tenancy

Answer 1

A joint tenancy‘s main feature: right of survivorship

When one joint tenant dies, it’s the property is freed from her concurrent interest.

Question 2

Creation of joint tenancy

Answer 2

Four unities required

Time

Title

Interest

Possession

Interests of joint tenants must be equal in every way. They must take identical interests, at the same time, by the same instruments with the same right to possession.

All interests in a joint tenancy must be equal shares. (Not necessary for tenancy in common)

Requires clear expression of right of survivorship otherwise conveyance to two or more people presumed tenancy in common.

Question 3

Severance

Answer 3

Under certain circumstances, Right of survivorship is severed and a tenancy in common results.

Question 4

Inter vivos conveyance (severance)

Answer 4

Inter vivos conveyance: a voluntary or involuntary conveyance by a joint tenant of her undivided interest destroys the joint tenancy. Transferee takes as a tenant in common. When here are more than two joint tenants, conveyance by one destroyed the joint tenancy only to the extent of conveyers interest.

Question 5

Contract to convey (severance)

Answer 5

severance results if one joint tenant contracts to convey her interest, but the courts are split on whether an executory contract by all joint tenants works a severance.