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5 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What does co-ownership mean?
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It refers to 2 or more people owning land at the same time.
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Whenever the land is co-owned, the land is help upon a trust. It is not possible for land to be owned by more than one person without a trust of land being in place.
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What is a Joint Tenancy?
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Co-owners are regarded as one person as far as the law is concerned. Together, the joint tenants own the whole property but alone they are nothing.
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The Right of Survivorship.
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What are the 'four unities'?
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1) Unity of Possession (Dennis v McDonald [1982])
2) The Unity of Interest 3) The Unity of Title (Ward v Ward (1871)) 4) The Unity of Time |
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What are Tenancies in Common?
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An alternative method of co-owning property and it differs in that it allows 2 or more people together but in identifiable shares.
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Law of Property Act 1925 s1(6):
"a legal estate is not capable of subsisting or of being created in an undivided share" & The maximum number of people who can co-own is 4. & Section 34(2) deals with the conveyance of land to co-owners as tenants in common. |
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How can you determine whether a tenancy in common or a joint tenancy exists?
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By studying the conveyance which was used to transfer the land to the co-owners.
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