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137 Cards in this Set

  • Front
  • Back
Posner's Three criteria of an efficient system of property rights:
Remember "Posner is a UTE"

1) Universality

2) Exclusivity

3) Transferability
universality
ideally, all resources should be owned, or ownable, by someone, except resources so plentiful that everybody can consume as much of them as he wants without reducing consumption by anyone else

EX: sunlight
exclusivity
you can exclude or not exclude anyone to your property
transferability
right to transfer our property to someone else

-donation
-sale
conversion
the taking of someone else's property and converting (transferring) it to yourself (making it your own)


1) intent to exercise
2) dominion & control
3) over the goods of another so as to
4) deprive the lawful owner of possession

*remedy= full value of the property
4 requirements of a property right:
1) capable of precise definition

2) capable of exclusive possession or control

3) alleged owner must have established a legitimate claim to exclusivity

4) claim of exclusivity
5 theories for justification of property:
*remember "justify a SuNrOLL theory"

1) occupation theory
2) natural rights theory
3) labor theory
4) legal theory
5) social utility theory
occupation theory
right to property is to whom first seizes it
natural rights theory
property is a natural or innate right
labor theory
right to property is in the trouble that you put in in - how much did you work to get it
legal theory
property is whatever is recognized as such by law
social utility theory
-combines all theories

-property is an order of social progress

-private property must be regulated in order to preserve value
common law of property
a person owns everything from the center of the earth to the skies
6 classes of property
"Right Now Property 1 Is My Favorite "...(class of property)

1) immovables
2) movables (chattels)
3) real property
4) personal property
5) freeholds
6) non freeholds
immovables
land and those things that are permanently attached to it
movables (chattels)
often of temporary character and can be easily moved about
real property
land or rights to land
personal property
consists of chattels or rights to chattels
freeholds
those interests that endure the life of the holder or longer
non-freeholds
1) interests that endure for a term of yrs

2)interests that have a terminating point
lost property
property owner involuntarily parted with (neglect, carelessness) and does not know where the property is

(ex: a wristwatch found on floor of public place will likely be regarded as lost property)
Finder of Lost Property
-finder has the right to possess the property against all except the true owner

-the one who reduces it to his possession becomes its finder

-finder can bring an action for conversion, trespass, or replevin to enforce the right to possession against 3rd parties
finding in public place
finder becomes entitled to the right of possession

*shop owner never reduced the money to possession and therefore had no possessory interest - money to finder
burried articles
go to the land owner, not the finder
mislaid property
property that the owner intentionally placed but inadvertently left
mislaid property

General Rule:
-finder obtains NO claim of possession in this situation

-the owner of premises upon which the voluntarily placed property is found becomes a bailee of the property and must use reasonable care for its safekeeping until the return of the owner (involuntary bailment)

(reason is, the person who mislaid the property is likely to go back to where they left it)
Abandoned Property
Belongs to the Finder of property

property which the owner has VOLUNTARILY relinquished all ownership of without reference to any particular person or purpose

*it is necessary to show intent to give up both title and possession
Rule of finding unclaimed (abandoned) property
does not equal a claim - to have ownership - must demonstrate intent to reduce to possession
treasure trove
any gold or silver that is found hidden, and of which the owner is unknown.

Common Law:
-belonged to finder against everyone except true owner. The fact that the finder was a trespasser would not deprive him of his possessory rights


*NOT followed in most modern day jurisdictions, and so possession will be determined under the rules of either lost or mislaid property
*
property imbedded in the soil without characteristics of lost property deemed to be mislaid
Bailment

(def)
1) legal relationship b/t the owner and the possessor of a chattel

2) the delivery of personal property, usually under an agreement, when possession of property is transferred from a bailor to a bailee for the purposes agreed upon to be returned to the bailor or otherwise disposed of according to the terms of the agreement

3) delivery of personal property under agreement, either expressed or implied, for a purpose so that after the purpose is finished the property may be recovered
3 kinds of Bailment:
1) for the benefit of the Bailor

2) of benefit for BOTH Bailor and Bailee (Commercial)

3) benefit of the Bailee
Bailment for the benefit of the Bailor:
slight care required from the bailee b/c bailee is not getting anything
Bailment for the benefit of BOTH the Bailor and Bailee (commercial)
both parties benefit from bailment

care by Bailee is important b/c you are both getting benefit

use of Ordinary Care
Bailment for the benefit of the Bailee
great care must be taken by bailee

(ex: you borrow your neighbors car)
Elements of a bailment:
Remember, "bailments "BAND" elements together"

1) delivery of possession

2) agreement

3) breach

4) negligence
Remedies for Bailment
Remember, "DiRT remedies"

replevin

trover

detinue
replevin
suit to reclaim the property

"I want my property back"

(recovery of illegally possessed property)
trover
to seek the value of loss

(in a case where the property is gone and irreclaimable)

"I don't want it back, I want the value"
detinue
someone had a right to your property (bailment), but now they don't want to give it back

(recovery of lawfully found property)
fungible goods

(def)
goods of like kind and quality held in common mass
Bona Fide Purchaser

(def)
a person, who in good faith, purchased property for value w/out notice of any defect in the seller's title to the property
Bona Fide Purchaser will prevail against the true owner if he can prove all 4 elements:
Remebmer, a bona fide purchaser "Sees Good Value and Notices"

1) semblance

2) good faith

3) value

4) without notice
Semblance of title (5 parts)
1) equitable estoppel (common law estoppel)

2) statutory estoppel

3) by virtue of voidable title

4) recording statutes

5) mere legal title

(see p.10, outline)
Good Faith
you must buy in good faith;

must be reasonably clear that the seller has the right to sell
Value
bona fide purchaser must give value in exchange for transfer;

the amount doesn't really matter (consideration)
Notice

(2 kinds):
* Actual
-had no real notice that the seller was questionable

* Constructive (or statutory)
-must be a recording
-legal notice imparted by law, by statute, statutory filing
Adverse Possession
concept of a long and continuous possession of anothers property so that the end result is the title passes to the possessor

*statute of limitations must be met
Elements of Adverse Possession:
* Remember, adverse possession is "Actually Visible ON Everyone Continuously"

1) Actual

2) Visible

3) Open and Notorious

4) Exclusive

5) Continuous
Actual
adverse possession must be taking place
visible
must be able to see someone infringing on your real property
open and notorious
the owner must have knowledge of the possession of his real property by another;

the general public would know
exclusive
there must be sole ownership

(no one else possesses/claims the land with you)
continuous
continuous for the statutory period
Prescription
-for personal property only

-obtain title to personal property by possession

-must believe or act as if the property is yours

-Prescription is Absolute Title (but in common law, not the case)
Accession
innocent improvement to the personal property of another

- the good faith improver is allowed to retain the finished product, paying only for the unimproved value

- the bad faith accessor loses everything!
Accession

(general rule)
when a party, acting in good faith and relying upon apparent lawful permission, takes property from another, and by expenditure of money and labor, transforms it into a much more valuable article, then the true owner is entitled to no more damages than the property's original value
Donative Transfer (Gifts)

(def)
a gift is a voluntary transfer of property by one to another without any consideration or compensation

*to be valid, a gift must be executed or actually made. A gratuitous promise to make a gift in the future is not binding
Inro Vivos Gift

(def)
among the living, made while still alive
Intro Vivos Gift

(3 requirements):
Remember, intro vivos gifts require "Delivery Intending Acceptance"

1) Intent

2) Delivery (actual, constructive, symbolic)

3) Acceptance
Donative Intent

(present voluntary transfer)
intended to part with the title now (can retain portion of title)
Actual Delivery
actual delivery of a tangible gift
(hand over of tangible item - always sufficient)

*if property is intangible, it is impossible to have Actual Delivery
Constructive Delivery
constructive delivery of a tangible item representing an intangible

-when an item, b/c of its size, location, or subject matter is incapable of manual delivery, so an intangible is used

-a constructive gift of land and vehicles are sufficient w/ title and statutory required certification
Symbolic Delivery
symbolic delivery of a tangible item representing a tangible item
(generally NOT allowed)

Ex: keys for a car
Acceptance of Intro Vivos Gift
1) Donee must accept the gift to transfer ownership

2) Donor cannot force a gift on the donee

3) Donee may refuse to accept a gift by an affirmative act

4) Courts presume an acceptance wherever the gift would be to the benefit of the donee
Gift Causa Mortis

(def)
a gift given in expectation of imminent death

*if you die from something other than what you thought you were going to die from, the gift causa mortis does not count!
Gift Causa Mortis

(elements)
same as Intro Vivos Gift, except you also need:

-expectation of death, and
-death actually occurs

*revocable if death doesn't occur
Gift Causa Mortis
must be delivered in person

(delivery is required to prevent fraud)
While physical delivery is usually the best form of delivery, it is not always practical
a gift of a future interest (intangible), done with a constructive instrument (letter) is sufficient

*the delivery of the letters (show intent) satisfies the delivery requirement in this case
where there is unequivocal proof that the decedent has done everything possible to effectuate delivery of a gift causa mortis, it will be upheld
remember the case where she left a suicide note and an endorsed check on the table of an apartment she shared with that guy
Difference between "Title Reverting" and "Title Passing"
the basic distinction b/t the tenurial and allodial theories of escheat is that under the tenurial theory land reverts or returns to the original owner, whereas under the allodial theory land passes forward to a new owner
Allodial
describes a situation where real property (land, buildings & fixtures) is owned free and clear of any encumbrances
escheat
property escheats to the sovereign (usually the state)

*reverts to the state when someone dies intestate with no heirs
in a Trust:
Trustee (bank): holds the legal title

Beneficiaries: hold the equitable interest in the trust property
conveyance
term used to describe the different ways property can be transferred from one party to another
Freehold Estates

("Presently Owned Land")
a) Fee Simple

b) Fee Tail

c) Life Estate
Non-Freehold Estates

("Leasehold Land")
a) Tenancy for Years

b) Periodic Tenancy

c) Tenancy at Will
Fee Simple
a) Fee Simple Absolute
-most complete estate a person can hold

b) Fee Simple Defeasable
-a fee which can be lost
Fee Tail
successor to fee simple conditional - always inheritable
Life Estate
*Not inheritable; ends when you die

1) Created by deed or will
-life estate for the life of the grantee
-life estate for the life of one other than the grantee - called estate pur autre vie

2) Created by operation of law (legal life estates)
-fee tail after possibility of issue extinct
-dower
-curtsey
-estate during coverture
Fee Simple Absolute

(words of limitation)
"and his heirs"

*modern trend, do not need to use these words of limitation

*any conveyance that does not expressly limit the estate that is being conveyed will be presumed to convey a fee simple absolute
Fee Simple Defeasible
a possessory estate that "may" last forever.

*it is subject to being terminated if the express condition occurs

ex: O->A, but if A sells alcohol on the land, then O has the right to re-enter and reclaim the land
3 types of Fee Simple Defeasables:
1) Fee Simple Determinable

2) Fee Simple subject to a condition subsequent

3) Fee Simple subject to an executory limitation
In a fee simple defeasable, if the future interest is held by the grantor the fee simple defeasable will be either:
- Fee Simple Determinable, or

-Fee Simple Subject to Condition Subsequent
In a fee simple defeasable, if the future interests is held by a 3rd party, there is only one possibility:
Fee Simple subject to an Executory Limitation
Fee Simple Determinable
When the limitation occurs (e.g., the selling of alcohol) it AUTOMATICALLY reverts back to the reverter (in this case, the grantor);

*no action needed.
Fee Simple subject to Condition Subsequent
When the limitation occurs, the grantor has the OPTION TO TERMINATE

*in order to have a fee on condition subsequent, you must have words of re-entry (if not, it will be a fee determinable)

*the future interest is called a right of re-entry

*the future interest is NOT automatic

*you must actually re-enter (by physically or filing suit)
-failing to do so, the present interest continues

ex: O->A, but if A sells alcohol on the land, then O has the right to re-enter and reclaim the land
Fee Simple subject to an Executory Limitation
O-> A, but if A sells alcohol on the land, then to B

*TERMINATES AUTOMATICALLY upon the occurrence of the express condition subsequent!

*because a party other than the grantor holds the future interest, the possessory estate is a fee simple subject to an executory limitation, and the future interest is an executory interest.
2 types of Executory Interests:
1) Shifting Executory Interest

2) Springing Executory Interest
Shifting Executory Interests:
if the right to possession is being taken from a 3rd party


*ELEMENTS:

i) Grantee to Grantee
ii) Goes from the grantor to grantee and then to another grantee.
Springing Executory Interests:
if the right to possession is being taken from the grantor

*ELEMENTS:

i) Occurs at some point in the future
ii) From Grantor to a Grantee back to the Grantor and then to another Grantee
O->A, but if A sells alcohol on the land, then to B and his heirs
A holds a fee simple defeasible, and the future interest is in a 3rd party, so A holds a fee simple subject to an executory limitation.

Is B's interests a shifting or springing executory interest?
(from whom is B taking the right to possession - the grantor or a 3rd party?)

-Here, B is taking the right to possession from A, a 3rd party. Therefore, B holds a shifting executory interest.

* The full state of the title in this example is: A holds a fee simple subject to an executory limitation, and B holds a shifting executory interest in fee simple.
O->A for as long as the Golden Gate Bridge stands
A holds a fee simple determinable

O holds a possibility of reverter in fee simple
O->A, but if A sells alcohol on the land, then O has the right to re-enter and re-take the land
A holds a fee simple subject to a condition subsequent

O holds a right of entry in fee simple
O->A as long as he farms the land organically, then to B
A holds a fee simple subject to an executory limitation

B holds a shifting executory interest in fee simple
O->A, but if she uses pesticides on the land, then to B
A holds a fee simple subject to an executory limitation

B holds a shifting executory interest in fee simple
Finite Estates:
1) life estate

2) fee tail

3) term of years

*finite= they must end (as opposed to infinite)
Life Estate
lasts for the duration of the grantee's life

*most common finite estate!
Life Estate
a grantee may transfer his life estate inter vivos.

If a life tenant transfers his or her interest, the grantee/transferee holds a life estate PUR AUTRE VIE: a life estate measured by the life of another (i.e., measured by the life of the original life tenant).

*while A is still alive, B's life estate pur autre vie is transferable, inheritable and decisable, but upon A's death the life estate pur autre vie immediately expires - even if B is still alive.
Fee Tail
A fee tail is a series of potential life estates.

A fee tail is a life estate to the immediate grantee, and upon his death, a life estate to his or her children, and upon each child's death, a life estate to that child's children, and so on until there are no "children" to take the fee tail.

*The words of limitation necessary to create a fee tail are "and the heirs of his/her body."

Ex: O->A and the heirs of her body, then to B and the heirs of his body
Term of Years
express language of the conveyance establishes a finite duration which is calculable on the day the interest is created - the end date must be capable of being determined on the first day the interest becomes possessory

Ex: O->A for 5 yrs
O->A from Jan 1, 2006 until Dec 31, 2006
O->A for 180 days starting today
If the grantor holds the future interest following a life estate, a fee tail, or a term of years, the future interest is called a:
reversion
If a third party (someone other that the grantor) holds the future interest following a finite estate, it is called a:
remainder
Analytically, once you determine the possessory estate is a finite estate, then ask:
"Who takes the future interest?"
O->A for life, then to B and her heirs as long as she does not smoke, but if she starts smoking, then O has the right to re-enter and reclaim the property
A has a life estate;

B has a remainder in fee simple subject to a condition subsequent, and

O has a right of entry/power of termination in fee simple
O->A and the heirs of her body, then to B and her heirs, but if she grows marijuana on the land, then to C and her heirs
A has a fee tail,

B has a remainder in fee simple subject to an executory limitation, and

C has a shifting executory interest in fee simple
O->A and the heirs of her body, then to O and her heirs
A has a fee tail

O has a reversion in fee simple
O->A for ten years, then to B and her heirs as long as she remains married to C, then C and her heirs
A has a term of years estate

B has a remainder in fee simple subject to an executory limitation

C has a shifting executory interest in fee simple
Just as there are two types of executory interests (shifting & springing), there are two types of remainders:
1) vested
2) contingent


*once you determine that a future interest is a remainder, you must determine whether it is vested or contingent.

A remainder is contingent unless it qualifies as vested.
A remainder is vested if the remainderman (the party who holds the remainder) is:
a) born and

b) Identifiable (i.e., you can identify the party by his or her personal name), and

c) there is no express condition precedent, in the same clause creating the remainder or the preceding clause. (A condition precedent is one which typically must be satisfied before the remainderman can take actual possession.)

*The remainder must satisfy all three requirements or it is a contingent remainder
O->A for life, then to B and his heirs if he gets married
A holds a Life Estate

B holds a contingent remainder in fee simple.
-------------------------------------

Is the remainder vested or contingent?

B is born and ascertainable (identifiable), but there is an express condition in the same clause creating the remainder.

Is it a condition precedent or a condition subsequent?

To B and his heirs "if he gets married."

The logical assumption is that at the time of the conveyance, B is not married yet.

B gets the possessory interest (the right to take actual possession) if, and only if, he gets married.

That express condition must occur BEFORE B's right can become possessory.

It is a condition precedent - so B holds a contingent remainder.
O->A for life, then to B and her heirs as long as she farms the land organically.
A holds a Life Estate.

B holds a vested remainder in fee simple determinable.

O holds a possible of reverter in fee simple
--------------------------------------

Is the remainder vested or contingent?

Notice there is an express condition in the same clause as the clause creating the remainder, but the issue is whether the condition is a condition precedent or a condition subsequent.

If the condition is a condition precedent, B will hold a contingent remainder in fee simple absolute;

If the condition is a condition subsequent, B will hold a Vested remainder in fee simple determinable.

The express condition, "as long as she farms the land organically," applies to her use of the land which inherently applies AFTER she takes actual possession- after her interest becomes possessory.

It is a condition subsequent;

B holds a vested remainder in fee simple determinable.
O->A for life, then to B and her heirs if B graduates from law school
A has a life estate

B has a contingent remainder in fee simple

O has a reversion in fee simple

*if the express condition precedent is not satisfied either prior to or at the moment the finite estate ends (A's life estate), the contingent remainder is destroyed by operation of law under the common law rule of destructibility of contingent remainders.

*In sum, if B fails to graduate from law school before A's life estate ends, the moment A's life estate ends B's contingent remainder is destroyed, and O's reversion becomes possessory. O would hold the property in fee simple absolute.

*if B graduates from lawschool before A's life estate ends, then the express condition precedent has been satisfied, B is born, and he is ascertainable (identifiable). Therefore, the remainder vests the moment B graduates and he would have a vested remainder in fee simple.
*
NOTICE remainders should be analyzed not only in light of the facts at the time the conveyance was created, but also in light of subsequent factual developments - all the way up to the point in time when the analysis is being performed. As long as the remainder vests BEFORE OR AT THE MOMENT the preceding finite estate ends (assuming the remainder is in fee simple), the default reversion in the grantor is extinguished.
O->A for life, then to B and her heirs if she graduates from law school, but if she fails to graduate from law school then to C and his heirs.
A has a life estate

B has a contingent remainder in fee simple

C has an alternative contingent remainder in fee simple

O holds a reversion in fee simple
Alternative Contingent Remainder
arises where the conveyance sets forth two contingent remainders, with the second expressly contingent on the first failing to vest.

*see above example
The above example can also be stated as:

O->A for life, then to B and her heirs if B graduates from law school, OTHERWISE to C and his heirs.
the word "otherwise" serves the same function as the espress clause in the first conveyance stating that the alternative remainder is contingent upon the first remainder not meeting its express condition precedent.

*Watch for either form of phrasing alternative contingent remainders.
Hierarchy of Estates:
a) fee simple
b) fee tail
c) life estate
d) leasehold estate
O->A for life, then to B and her heirs
A has a life estate

B has a vested remainder in fee simple absolute
Rule Against Perpetuities

(def)
the future interest in question must vest, if at all, within the lives in being at the creation of the interest plus 21 yrs, or the interest is void from the moment of its attempted creation.
Remember that you only have to worry about the Rule against Perpetuities if you see one of the three future interests subject to the Rule:
-contingent remainders
-executory interests, and/or
-vested remainders subject to open
Example of a scenario that violates the Rule Against Perpetuities:

O->A for life, then to A's first child to reach age 25 and his or her heirs.

*Assume A has two children, B, age 23, and C, age 20.
A has a life estate

A's first child to reach age 25 has a contingent remainder in fee simple

O has a reversion in fee simple.


The contingent remainder at issue is to A's first child to reach age 25. CREATE! Whom do we create? We want to create someone who is eligible to claim the property under the terms of the conveyance so create a new child for A: child X is born to A.

We now have a life in being who was not alive at the time of the creation of the interest.

What do we do next?
-KILL!

Kill whom?
-All of the people who were alive at the time of the creation of the interest: A, B, C, and everybody else in the world.

Then what?
-That takes care of the lives in being, but we still have to take care of the rest of the time period. COUNT!

Count 21 years.

How old is child X at the end of the Rule's time period?
-21 years old.

Is it conveivable that X will live another four years, thereby becoming A's first child to reach age 25 and be entitle to claim the property?
-Yes

Have we created a scen
*
If the future interest violates the Rule against Perpetuities, strike the whole clause containing the future interest and restate the title.

Here, the original conveyance stated, "To A for life, then to A's first child to reach age 25 and his or her heirs."

Striking the whole clause which contains the contingent remainder, the conveyance would read, "To A for life."

After applying the Rule against Perpetuities, the state of the title is A has a life estate, and O has a reversion in fee simple.
O->A for life, then to B and her heirs if B reaches age 25

*assume B is age 23
A has a life estate

B has a contingent remainder in fee simple

O has a (default) reversion in fee simple
--------------------------------------

Because B's remainder is contingent, it is subject to the Rule against Perpetuities.

Apply the 'create, kill, and count' approach.

Can you create someone who will be eligible to claim the property?
-No.

The condition is tied to B.

B is the only person who is eligible to satisfy the condition.

*If you cannot create someone who would be eligible to satisfy the condition, then you cannot create a scenario which violates the Rule and the interest must be valid.

*If the condition is expressly tied to a named person who is alive, as opposed to a generically-described person, the interest will NOT violate the Rule against Perpetuities.
O-> A for life, then to O's first grandchild and his or her heirs.

*Assume O has three children, but no grandchildren
A has a life estate

O's first grandchild has a contingent remainder in fee simple (contingent because he or she is not born and ascertainable), and

O has a reversion in fee simple.
--------------------------------------

If this conveyance is by inter vivos deed, is the contingent remainder valid?

Again, the first step is to create a new person, and our goal is to violate the Rule so create as far back in the process as possible.

Create a new child from O, child X.

Next, kill all the people who were alive at the time of the inter vivos conveyance: O, A, and O's 3 children.

Then count 21 years.

Is it possible that X will have a child thereafter?
-Yes.

Because that child will be O's first grandchild, the remainder will vest upon that child's birth- but we have created a scenario there that birth was delayed until after the lives in being plus 21 years.

*Accordingly, the contingent remainder violates the Rule against Perpetuities and is invalid.
The Rule in Shelley's Case applies if:
1) the same document
2) conveys a life estate to a grantee and
3) a remainder to that grantee's heirs

-THEN-

4) the conveyance to the grantee's heirs is read as a conveyance to the grantee
O->A for life, then to A's heirs
Rule in Shelly's Case applies!

It would become:

O->A for life, then to A

A has a life estate

A also has a vested remainder in fee simple absolute
The Doctrine of Worthier Title
prevents a grantor from conveying a life estate to a grantee and a future interest (a remainder or an executory interest) to the grantor's heirs.

If the grantor attempts such an inter vivos conveyance, the future interest to the grantor's heirs is read instead as a reversionary interest to the grantor.
O to A for life, then to O's heirs
The Doctrine of Worthier Title appplies!

It would become:

O->A for life, then to O

A has a life estate

O has a reversion in fee simple absolute
The Doctrine of Worthier Title applies if:
1) the same inter vivos conveyance
2) conveys an inherently limited estate to a grantee and
3) a remainder or an executory interest to the grantor's heirs,

-THEN-

4) the conveyance to the grantor's heirs is read as a conveyance to the grantor
3 forms of concurrent ownership (Co-tenancy)
1) Tenants in common
2) Joint Tenancy w/ right of survivorship
3) Tenancy by the entirety
Tenants in Common
- 2 or more persons share ownership of property, often as the result of an intestate succession

- Conceived as owning fraction interests which may be equal or unequal

EX: A,B,C,D may own a one-fourth interest

*A may acquire the interests of B & C, so that he owns a three-fourths interest and D one-fourth
Joint Tenancy
Estate held by 2 or more people

-at the exact same time and same amount held together

-has the right of survivorship

-Under Common Law, requires all 4 unities
4 Unities are:
1) Unity of Time
-interest vested at the same time, same instruments

2) Unity of Title
-Interest derived from the same source or grantor

3) Unity of Interest
-Interest must be equal and undivided

4) Unity of Possession
-Each party must have equal possession rights
Survivorship
A & B own black acre together:

When A dies, B owns it ALL
Any act which severs the joint tenancy destroys survivorship
a) agreement to sever
b) transfer of interest
c) partition
d) conduct indicating a tenancy in common
*
murder destroys right of survivorship, but maintains an interest in property