#17505 - Property Law Co Ownership - Property Law/ Land Law

CO-OWNERSHIPWhen more than one person owns a property Tenancy in common, joint tenancy, coparcenary (obsolete), tenancy by entireties (obsolete) CoParcenary • Prior to succession act, the rules of succession governed by primogeniture - succession by the male defendants.A generation with no sons - the property would go to the daughters and they would hold it on a co-ownership basis - this was called coparcenary. Tenancy by entireties • Related to the fact that at common law, a husband and wife were treated as one unit. JOINT TENANCY • A type of co-ownership, where two or more owners of land are treated as a single owner of land Legally, they are a single owner. Qualifications: 1. Survivorship 2. Four unities • If you don't have a joint tenancy, you likely have a tenancy in common. The principle of survivorship: • • • • • When one of the co-owners die, their interest ceases, and the survivor owns the property then themselves. Say there are 3 - A, B,C - A dies - the property ownership is equally owned by B and C If C dies, it goes to B If B dies, the rules of succession apply - the ownership ends, and with it there are no rules of survivorship anymore Survivorship takes precedence over wills. So, if A and B jointly owned a property, and B dies - even if B leaves the property to C - it goes to A S 4 (C) of the succession actThe estate or interest of a deceased person under a joint tenancy… The four unities 1. Unity of possession