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62953
Co-Ownership
Descripción
Land Mapa Mental sobre Co-Ownership, creado por rhiannonfayemcdonald el 30/04/2013.
Sin etiquetas
land
land
Mapa Mental por
rhiannonfayemcdonald
, actualizado hace más de 1 año
Más
Menos
Creado por
rhiannonfayemcdonald
hace más de 11 años
230
2
0
Resumen del Recurso
Co-Ownership
Legal Ownership
Always a Joint Tenancy!
Equitable Ownership
Can be Joint Tenancy or Tenancy In Common
Which One?!
1. Are the 4 unities present?
No
T-I-C
Yes
JT
2. Any express statements will be conclusive (Goodman v Gallant)
3. Any words of severance?
Yes
"equally" "in equal shares" "to be divided between"
T-I-C
"jointly"
JT
No
4. Are circumstances such that equity will presume T-I-C? Business/unequal contributions
Yes
T-I-C
Tenancy In Common
Each owner holds his individual share of the land
Share is quantifiable but land is undivided
Can do what they want with it
Right of survivorship doesn't operate so can leave in a will
Can sell it or give it away
No
JT
Joint Tenancy
All own land together (as a single owner)
No owner can unilaterally dispose of his interest
Unless he ends ends the JT (can't sever legal ownership, but can with equitable
Means of severance:
Statutory - written notice LPA'25 S.36(2)
Operating upon his share
Mutual Agreement
Course of Dealing
He (and only he) will become a T-I-C, and able to dispose of share as he wishes
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