Chapter 4 Term Words

Front 1

Equal Partners, 50 50 Interest; Alabama is not a community Property State.

Back 1

Community Property

Front 2

Do dower and curtest rights exists in community property states?

Back 2

no they do not exists in community property states. Dower and curtest rights do exists in Alabama.

Front 3

2 or more people; at the same time

Back 3

Concurrent Ownership

Front 4

owner by one person; the title is held by one person; an individual, a corporation or a government body

Back 4

Estate In Severalty

Front 5

Co-ownership of property that feathers the right of survivorship

Back 5

Joint Tenancy

Front 6

What 4 unities must be present to create a joint tenant?

Back 6

unity of time, title, interest, & possession

Front 7

who does the property go to upon death of the joint tenant?

Back 7

the surviving joint tenant

Front 8

joint tenants right can be used to defeat what to marriage rights if they form a business partnership?

Back 8

dower & curtesy

Front 9

serviving joint tenant;

A feature of joint where the surviving joint tenant automatically acquire all right title and interest of the deceased;

Cannot be used on tenant in common

Back 9

right of survivorship

Front 10

joint ownership by the entirety; joint tenants by married persons; there is an addition unity of person.

Back 10

tenancy by the entirety

Front 11

Does Alabama recognize tenancy by the entirety?

Back 11

no

Front 12

1 property 2 or more owners; every owner has a undivided interest in the property & has a title to the undivided interest; no right of survivorship; pass to heirs: the % of ownership must be stated in the contract, otherwise it is an equal interest

Back 12

tenants in common

Front 13

what unit is essential for tenants in common

Back 13

unit of possession

Front 14

can tenants in common sell the property?

Back 14

yes; interest is proportioned to his investment; he can sell with out anyones permission.

Front 15

right to entire property; an interest in the property that can not be physically divided

Back 15

undivided interest

Front 16

divides the property; divides the property into distinct portions so that each person can hold a proportional interest in severalty. This can be used when one party can not pay their interest in the bills.

Back 16

Partition

Front 17

ownership position is at the same time. You can not add new tenants

Back 17

unit of time

Front 18

from the same source(the same deed or will)

Back 18

unit of title

Front 19

exactly the same rights in that interest; Example if one person holds fee sample then everyone holds fee sample.

Back 19

unity of interest

Front 20

they both have the same right to the property

Back 20

unity of possession

Front 21

basis for this is the legal premise that a husband & wife are an undividable legal unity; used in tenants by the entirety

Back 21

unity of person

Front 22

what two tenants have the right of survivorship?

Back 22

tenants by the entirety and joint tenants

Front 23

can joint tenants be conveyed to another party without the approval of the other joint tenants?

Back 23

yes

Front 24

what two ownerships are not recognized in Alabama

Back 24

tenancy by the entirety & community property

Front 25

Can a married person hold a separate property?

Back 25

yes, if property was bought before marriage or it was inherited before marriage

Front 26

joint tenants must aquire their interest in joint held property, how?

Back 26

at the same time; from the same source ; in the same instrument

Front 27

community property law are derived from m legal concepts that have their origin in

Back 27

Spanish and French

Front 28

what two properties are passed to hires or devisees ( he transfer of real estate by will or last testament)

Back 28

tenancy in severalty & tenancy in common

Front 29

how is joint tenancy terminated?

Back 29

when any of the unites are broken

Front 30

what two tenancy are terminated by sales or death of the owner

Back 30

tenancy in severalty & tenancy in common

Front 31

what two tenancy have the right of partition?

Back 31

Tenancy in Common & Joint Tenancy

Front 32

on joint tenancy how many titles are there?

Back 32

one title

Front 33

what two tenancy can be conveyed with out the consent of the other owners

Back 33

tenancy in common & joint tenancy

Front 34

what happens when one joint tenant dies

Back 34

passes to surviving owners

Front 35

Probate is the judicial process that provides legal supervision of estates after the death of an individual. what two ownerships use the probate process?

Back 35

tenancy in severalty & joint tenancy