Concurrent Ownership and Landlord/Tenant

Joint Tenancy Definition

two+ people share property equally, with right of survivorship

Joint Tenancy Elements

Right of survivorship, destroyed unilaterally, presumption for it

Right of Survivorship

When one owner dies the property transfers to the other owner(s)

Tenancy in Common

Each owner holds a distinct share of the property, which can be inherited by heirs

Tenants in Common Elements

No right of survivorship, how they inherit under intestate succession

Tenancy by the Entirety

Ownership only for married couples where each spouse has an equal interest with the right of survivorship

Tenancy by Entirety Elements

Right of survivorship, cannot unilaterally end, only divorce or death ends it

Jackson v O’Connell

Conveyance of an interest by one joint tenant to another does not sever the joint tenancy entirely, just that portion

Palmer v Flint

If a deed clearly expresses an intent to create a joint tenancy, it will be made instead of following common law

Duncan v Vassaur

Murder of one joint tenant by the other joint tenant severs the joint tenancy

Lease

Legal agreement granting the right to periodically use and occupy property in exchange for rent

Tenancy for a Term

Estate that lasts for a fixed, specified duration

Fixed Term

Lease contains the beginning and termination date

Computable Term

Lease specifies a formula for determining the beginning and end dates

Computable Term Example

2025 Deer Hunting Season

Fixed term Examples

August 1, 2024- August 1 2025

Periodic Tenancy

Lease for some fixed duration that automatically renews until a party gives adequate notice of termination

Periodic Tenancy Example

Month to month leases

Tenancy at Will

No designated duration and subject to termination at any time by either party

Tenancy at Sufferance

Tenant continues to occupy the property after the lease has expired, without consent

Two types of Lease Interests

Assignments and Subleases

Lease Assignments

Tenant transfers entire lease interest for remaining term with no future interest

Sublease

Tenant transfers part of lease interest but keeps a future interest