co-ownership

Bankrupt case: established the three methods of severance

Williams 1861

The three methods of severance

Act operating on a share, mutual agreement or course of dealing

Severance may occur without knowledge of other joint tenants case

Shaire 2001

Martin Dixon CO ownership quote

Co-ownership exists where “two or more persons are entitled to simultaneous interests in the same land.”

Joint tenancy definition

A joint tenancy is a form of co ownership where all owners together own the whole property and no individual has a separate share

Right of survivorship Latin

Jus accrescendi

Joint tenancy four unities case

AG securities 1988

Joint tenancy joint tenants hold the whole property together rather than separate shares. Case

Goodman 1986

Right of survivorship definition

When one joint tenant dies, their interest automatically passes to the surviving joint tenants, rather than through their will.

Tenancy in common definition

A tenancy in common is a form of co-ownership where each owner holds a distinct share in the property, though the land itself remains undivided.

Tenancy in common: case that

Confirmed that co-owners may hold separate beneficial shares.

Bull 1955

Tenancy in common:

Once shares are defined, parties hold them as tenants in common. Case

Goodman 1986

Four unities

time, Title, Interest , Possession

Academic quote for the four unities

Kevin gray : The four unities represent the essential characteristics of a joint tenancy

Severance by notice definition

A joint tenant may sever the joint tenancy by written notice expressing an immediate intention to sever.

Severance by notice cases

Harris 1982 and kinch 1999

Bankruptcy and Co-Ownership

When a co-owner becomes bankrupt, their beneficial interest may be transferred to the trustee in bankruptcy, and the court may order sale of the property.

Bankruptcy and Co-Ownership

Barca 2005 and Nicholls 2007

Bankruptcy and Co-Ownership academic quote

Martin Dixon: After one year, courts usually give priority to creditors over co-owners’ personal interests.