Land/Trusts - Co-Ownership of Land Flashcards
(32 cards)
a trust of land is automatically imposed whenever land is
owned jointly
A couple buy a home in their joint names. In respect of the legal title, the couple are
both registered at the Land Registry as the legal owners.
They are the trustees.
A couple buy a home in their joint names. In respect of the equitable title, the couple are
both beneficiaries
Formalities for express trusts of land
in writing and signed by the declarant(s)
Formalities for implied trusts of land
None - they will be either a resulting or constructive trust
When do constructive trusts arise?
where it is unconscionable for the legal owner of the land to deny the interest of another person (eg if the other person made a financial contribution on purchase but is not a named legal owner)
Can you leave your interest in a joint tenancy to someone in your will?
No, right of survivorship applies.
Which of the 4 unities is required for a tenancy in common?
unity of possession ONLY
Can a minor hold legal title to land?
No, trustees must be ‘sui juris’: of full age and sound mind
‘curtain principle’ of Land Registration
the names of the equitable owners do not appear on the registers of title, and the way the equitable interests are held is not disclosed
In what ways is equitable title more flexible?
no limit on the number of people who can hold an equitable interest in a piece of land;
no requirement to be sui juris e.g. property is often held on trust for under-18s.
The equitable owners can choose whether they hold the equitable title as joint tenants or tenants in common.
Can you have an equitable tenancy in common if the 4 unities are present?
Even if the 4 unities are present, an express declaration that the owners hold as tenants in common will prevail - in absence of an express declaration, words such as “in equal shares” can indicate a TIC
When will a rebuttable presumption of a tenancy in common arise?
Land is a business asset; and
the purchase price of a non-domestic property has been paid in unequal shares (Bull v Bull)
What document is required on the death of a joint tenant?
a copy of that person’s death certificate
When must severance take place?
during the joint tenant’s lifetime → making a will does not sever a joint tenancy as it only takes effect after death
2 modes of severance
1) notice in writing; or
2) ‘other acts or things’
‘Others acts or things’ is severance by:
A unilateral act by one joint tenant;
Mutual agreement; or
Mutual conduct.
Effect of severance (Goodman v Gallant)
When a joint tenancy is severed, each joint tenant will receive an equal share irrespective of the size their initial contribution
Who does severance effect?
only affects the owner who instigates the severance; the others remain equitable joint tenants (unless there are 2 owners)
Requirements to sever a joint tenancy by giving a notice in writing
Must be served on all other equitable joint tenants, no formalities, does not need to be signed
must demonstrate an unequivocal and irrevocable intention to sever the equitable joint tenancy immediately
Severance by notice in writing must demonstrate
an unequivocal and irrevocable intention to sever the equitable joint tenancy immediately
When is a severance by notice in writing served?
once delivered - does not have to be read or received
involuntary alienation
joint tenant is declared bankrupt by the court
Partial alienation to sever joint tenancy
severing owner temporarily disposes of the interest by mortgage or lease
