Co-Ownership

Front 1

What is Co-Ownership?

Back 1

It arises when there is a concurrent interest in land. Post-1925,

Front 2

What is Joint Tenancy?

Back 2

Blackstone: 'A thorough and intimate union of interest and possession'. As a group you are one globule.

- Irrelevant how much you contribute to purchase price, you do not get a share.
- You get right of survivorship. Will becomes irrelevant.

Front 3

What is a Tenancy in Common?

Back 3

- Only unity of possession is essential for this.

- Each co-owner is regarded as having a distinct 'undivided' share.

- Share can and often will be proportionate to contribution.

- No right of survivorship.

- Method ideal for house with friends and business investments.

Front 4

What is Severance?

Back 4

- The act of converting a Joint Tenancy to a Tenancy in Common.
- If you sever your interest, the right of survivorship no longer applies and you will be entitled to an equal share.
- You can only do this in equity.

Front 5

AG Securities v Vaughan

Back 5

Held: Joint tenants are viewed as a single entity, a joint tenancy cannot exist unless 4 unities are present.

1. Possession.
2. Interest.
3. Title. (same document)
4. Time. (same time)

Front 6

s1(2)(a) TLATA 1996

Back 6

Co-Ownership gives rise to a trust of land.

Front 7

s1(6) LPA 1925

Back 7

- Legal title is always held as a joint tenancy. You cannot be legal tenants in common.

Front 8

s36(2) LPA 1925

Back 8

Severance.

- There can be no severance of a legal joint tenancy to create a tenancy in common.
- Must be done inter vivos (Re Caine's Deceased).

2 Ways to sever interest;
1. Notice in Writing.
2. Acts or things which would amount to severance.
- Also homicide.

Front 9

Grindal v Hooper

Back 9

Held: You cannot contract out of severance.

Front 10

s34(2) TA 1925

Back 10

- Max number of trustees: 4

Front 11

s.2 + s.27 LPA 1925

Back 11

- Overreach a beneficial interest in land by paying purchase money to 2 or more trustees.

- You then take the land free of their interest. Beneficial interest goes from land to money you pay for the land. You will not be bound by any of the beneficial interests. Makes life simpler for buying co-owned land.

Front 12

Equitable Title

Back 12

- Held as JTs or TICs
- Unlimited number of co-owners.
- Must have 4 unities to be JTs. Need unity of possession.
- 4 unities, but then look at declaration or words of severance.
- If nothing, follow the law.

Front 13

Pink v Lawrence

Back 13

Held: Where there are express words in the grant as to how beneficial interest will be held, this declaration will prevail.

Front 14

Re Kilvert deceased

Back 14

Words of severance - 'equally'

Front 15

Stack v Dowden

Back 15

Held: Presumption of a TIC arising from unequal purchase contributions will apply unless parties provide evidence to contrary.

Front 16

Jones v Kernott

Back 16

- Confirmed Stack v Dowden
- Where a 'home' is held in joint names, this creates the rebuttable presumption that equitable title would be presumed to be held as joint tenants.

Front 17

Goodman v Gallant

Back 17

Held: Joint tenancy results in equal contributions regardless of initial unequal contributions.

Front 18

Re Draper's Conveyance

Back 18

Held: Severance can be implied.

Front 19

Harris v Goddard

Back 19

Held: Intention to sever must be immediate. (also some degree of permanence). She wasn't asking for immediate severance.

Front 20

s.196(3) LPA 1925

Back 20

Held: Doesn't matter if the other JTs read it. Severance takes place as soon as the letter arrives at property.

Case: Kinch v Bullard

Front 21

s.196(4) LPA 1925

Back 21

Deals with registered post.
- Deemed delivered as soon as it is put in the post.

Case: Re 88 Berkeley Rd.

Front 22

Williams v Hensman

Back 22

- 'Other acts or things' to sever.
i. JT acting on his own share.
ii. Mutual agreement of JTs.
iii. Mutual conduct of JTs.

Front 23

Re Gorman

Back 23

Held: Involuntary Bankruptcy was act operating on own share.

Front 24

Gore & Snell v Carpenter

Back 24

Held: No set form but mutual agreement that they should sever.

Front 25

Burgess v Rawnsley

Back 25

Facts: In love, they decide to buy a house and be JTs. She agrees to sell him her share and they agree a price.

Held: Their JT was severed at the moment they agreed.

Front 26

Davies v Smith

Back 26

Facts: Woman fell down stairs before she could sign document to confirm separate shares in property.

Held: Mutual Conduct can be sufficient.

Front 27

s6(1) TLATA 1996

Back 27

- Trustees have rights of the absolute owner.

Front 28

s11(1) TLATA 1996

Back 28

- Trustees have a duty to consult beneficiaries and give effect to the wishes of the majority in value.

Front 29

s.14 TLATA 1996

Back 29

- Right to apply to court for an order of sale.

Front 30

s.15 TLATA 1996

Back 30

Creditors first among equals.
Case: Bank of Ireland v Bell.

Front 31

s335A Insolvency Act 1986

s335A(3) - Exceptional Circumstances.

Back 31

Look at all circumstances and have a duty to get as much money as possible barring exceptional circumstances (Re Mott - severe illness).

Front 32

Barca v Mears

Back 32

- HR case. Article 8 interference with predisposition to sell?

Front 33

Wright v Gibbons

Back 33

Successor in will can hold share as a TIC and a JT.

Front 34

Re Ever's Trust

Back 34

Held: Sale under TLATA denied as the property was still serving its purpose as a family home.