Express Co-ownership

"Express" = land was sold/transferred to the parties expressly
Legal title must be held as a joint tenancy --- s1(6), s34(1), s36(2) Law of Property Act [LPA] 1925
s34 Trustee Act 1925 - the max no. of people who can be on the legal title is 4 (signatures required to sell land)

If > 4 people want to buy land...

s34(2), s36(1) LPA 1925: a trust is imposed, there'll be a beneficial co-ownership;
the extra person will have an equitable title (beneficiary)
"beneficial" = rights of enjoyment in land

Results in:

All 5 people have the right to the beneficial enjoyment of the land. A trust is imposed, the title of the the land is split into legal title & equitable title
A, B, C, D - legal title (joint tenants) + equitable title & interest (beneficiaries)
E - trust is imposed, equitable title & interest only
A, B, C, D hold the land on trust for all 5 of them
- duty to consult E before they can consider selling the land

Equitable title

Even the 4 unities are met, equity may presume a TIC

An express declaration of TIC
No express declaration but words of severance (indicated to have their own individual & separate shares)
- "equally" ---- Lewen v Dodd (1599)
- "between" ---- Lashbrook v Cock (1861)
- "share and share alike" ---- Heathe v Heathe (1741)
No express declaration, no words of severance BUT equal contribution to the purchase price = JT
Unequal shares of purchase price = TIC
- the size of each party's share will be in proportion to his respective contribution
--------- Lake v Gibson (1729), Bull v Bull (1955)
Business partnership even if equal contribution to purchase price
- so that the right of survivorship doesn't apply
--------- Malayan Credit Ltd v Jack Chia-MPH Ltd. (1986)
2+ people lend money on a mortgage (even if it's lent in equal shares) = TIC
--------- Petty v Styward (1632)

	Created by chocomoony about 10 years ago

Land Note on Express co-ownership, created by chocomoony on 26/02/2014.

Express co-ownership