Concurrent Ownership

Question 1

Concurrent Ownership

Answer 1

When multiple people hold interest in same land at the same time.
- each cotenant has the righ to use and possess the entirte property, not just their share.

Question 2

3 types of Tenancy

Answer 2

1. Tenancy in Common
2. Joint Tenancy
3. Tenancy by the Entirety.

Question 3

Tenancy in Common

Answer 3

Each tenant has an undivided fractional interest in the property, the interest is freely alienable,, devisable, and descendible.
- Each has the right to use and possess the whole parcel even if his fractional interest is smaller.
- Any conveyance or devise to 2 or more unmarried persons is presumed to be a tenancy in common, unless language shows other intent.

O conveys to A and B - A and B are tenants in common w/ an undivided fractional interest in the property.

Question 4

Joint Tenant

Answer 4

Tenants have undivided right to use and possess, but each also has a right of survivorship meaning the last man statnding become sthe sole owner.
- NOT devidabke ot descendible.

O conveys to A and B as joint tenants w/ right of survivorship” - a and B are joint tenants with undivided right to use and possess entire property BUT when A or B dies, their interest is removed and the survivor becomes the sole owner.

Question 5

Joint Tenancy- How to Analyze

Answer 5

1. More jurisdictions today look to the language “to A and B as joint tenants w/ a right of survivorship.”
   -> a. w/out express language some courts will presume tenancy in common.
   -> b. most courts will focus on the grantor’s intent.
2. CL joint tenact only created when 4 unities of interest exist.

Question 6

Joint Tenancy- 4 unities of Interest

Answer 6

1. time- all joint tenants must acquire their interests at the same time (same day for example)
2. Title- all joint tenants must acquire title by the same instrument (ie, deeds)
3. Interest- all joint tenants must have the same shares in the estate, equal in size and duration (if A receives 1/3 interest and B receives 2/3 interest, then no unity)
4. Possession- all joint tenants must have equal rights to possess, use, and enjoy the whole property.

Question 7

Tenancy by the Entirety

Answer 7

Each tenant by the entirety has undivided right to use and possess the whole property and a right of survivorship.
* Many jurisdictions preusme this tenancy when conveying to a mattied couple.
* INCLUDES the 4 unities + marriage

To A and B as husband and wife as tenants by the entirety.

Question 8

partition

Answer 8

this means the division of common interests in the property.
this occurs when at least two people jointly own property and they wish to divide their common title.
- as a result, the partition would segregate and terminate their commin inhterests in the property.

Question 9

What are the two kinds of partition?

Answer 9

1.** Partition in kind**
2. Partition by sale

Question 10

Partion in Kind

Answer 10

This is divided into smaller plots.
- i.e. split the property according to proportion of interest BUT this is difficult in practice b/c it fragments property rights.
- this is preferred

Question 11

Partion in Sale

Answer 11

Sold off and money divided.
party has to prove-
1. the property cannot be conveniently partitioned in kind
2. Interests of one or more of the parties will be promited by the sale.
3. the interests of teh other parties will not be prejudiced by the sale.

Question 12

Cotenant Rights and Duties - 3 basic rules on profits and credits on a sale of commonly owned property

Answer 12

1. Owner who has paid less than his pro-rate share of operating and maintenance expenses must account to co-owner (even if the former has been out of possession)
2. A tenant who chooses not to occupy the property does not equal the right to impose an occupancy charge on the other.
3. Tenant who has been in sole possession and seeks contribution of operating and maintenance expenses

Basically saying taht the covenant in sole possession will not recover operating and maintenance costs unless these exceed the fair rental value.

Question 13

Marital Property

Answer 13

Traditional CL- at marriage woman lost ability to own, manage, and dispose of her property.

Question 14

Marital Property- Systems

Answer 14

1. Separate property system
2. Community Property

Question 15

Separate Property

Answer 15

1. rights during marriage- basic rule is that the property is separate and owned by the spouse who aquires it.
2. Rights during divorce- property will be equitably distributed
3. Rights during death- forced share or an elective share of the decendant’s estate.
   -> survivor has a choice to (1) take under the decendants, (2) receive a defined portion of the decendants estate, usually 1/3 or 1/2 share.

Question 16

Community Property

Answer 16

1. rights during marriage- all earnings during the marriage- and all assets aquired from those earnings- are owner by both spouses equally. based on the concept, husband and wife contribute to the marriage equally.
2. rights during divorce- all community property is divided between the spouses.
3. rights during death- at death, the decendant may devise her hald of the community property and all of her sepearte property she wishes. the other hald belongs to the remaining spouse.