Co-Ownership

rhiannonfayemcdonald
Mind Map by , created over 6 years ago

Land Mind Map on Co-Ownership, created by rhiannonfayemcdonald on 04/30/2013.

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rhiannonfayemcdonald
Created by rhiannonfayemcdonald over 6 years ago
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Co-Ownership
1 Legal Ownership
1.1 Always a Joint Tenancy!
2 Equitable Ownership
2.1 Can be Joint Tenancy or Tenancy In Common
2.1.1 Which One?!
2.1.1.1 1. Are the 4 unities present?
2.1.1.1.1 No
2.1.1.1.1.1 T-I-C
2.1.1.1.2 Yes
2.1.1.1.2.1 JT
2.1.1.1.3 2. Any express statements will be conclusive (Goodman v Gallant)
2.1.1.1.3.1 3. Any words of severance?
2.1.1.1.3.1.1 Yes
2.1.1.1.3.1.1.1 "equally" "in equal shares" "to be divided between"
2.1.1.1.3.1.1.1.1 T-I-C
2.1.1.1.3.1.1.2 "jointly"
2.1.1.1.3.1.1.2.1 JT
2.1.1.1.3.1.2 No
2.1.1.1.3.1.2.1 4. Are circumstances such that equity will presume T-I-C? Business/unequal contributions
2.1.1.1.3.1.2.1.1 Yes
2.1.1.1.3.1.2.1.1.1 T-I-C
2.1.1.1.3.1.2.1.1.1.1 Tenancy In Common
2.1.1.1.3.1.2.1.1.1.1.1 Each owner holds his individual share of the land
2.1.1.1.3.1.2.1.1.1.1.1.1 Share is quantifiable but land is undivided
2.1.1.1.3.1.2.1.1.1.1.1.2 Can do what they want with it
2.1.1.1.3.1.2.1.1.1.1.1.2.1 Right of survivorship doesn't operate so can leave in a will
2.1.1.1.3.1.2.1.1.1.1.1.2.2 Can sell it or give it away
2.1.1.1.3.1.2.1.2 No
2.1.1.1.3.1.2.1.2.1 JT
2.1.1.1.3.1.2.1.2.1.1 Joint Tenancy
2.1.1.1.3.1.2.1.2.1.1.1 All own land together (as a single owner)
2.1.1.1.3.1.2.1.2.1.1.1.1 No owner can unilaterally dispose of his interest
2.1.1.1.3.1.2.1.2.1.1.1.1.1 Unless he ends ends the JT (can't sever legal ownership, but can with equitable
2.1.1.1.3.1.2.1.2.1.1.1.1.1.1 Means of severance:
2.1.1.1.3.1.2.1.2.1.1.1.1.1.1.1 Statutory - written notice LPA'25 S.36(2)
2.1.1.1.3.1.2.1.2.1.1.1.1.1.1.2 Operating upon his share
2.1.1.1.3.1.2.1.2.1.1.1.1.1.1.3 Mutual Agreement
2.1.1.1.3.1.2.1.2.1.1.1.1.1.1.4 Course of Dealing
2.1.1.1.3.1.2.1.2.1.1.1.1.1.2 He (and only he) will become a T-I-C, and able to dispose of share as he wishes

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