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Property B Summary Co Ownership Notes

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This is an extract of our Property B Summary Co Ownership document, which we sell as part of our Property Law Notes collection written by the top tier of Monash University students.

The following is a more accessble plain text extract of the PDF sample above, taken from our Property Law Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:

Topic 2: Co­Ownership Co­ownership:

• Ownership of an interest in land by more than one person at the same time

• Does not refer to any physical subdivisions of the property

1.

Types of Co­ownership a. Joint Tenants i. Definition

A joint tenancy is where two or more persons simultaneously hold an interest in
the same parcel of land, where the two distinguishing features are apparent: the
right of survivorship and the four unities.

Joint tenants are said to hold per my et per pour tout (for nothing and for all)
meaning that no JT has any individual share, but that each has a right, with the
other JT, to the whole of the property

Despite the fact that a JT does not have an individual share, JT's can freely
dispose of their interests to another by severance.

ii. Right of survivorship ('just accrescendi')

The interest of a joint tenant does not form part of his/her estate on death but
accrues to the surviving joint tenant(s) ­ the jus accrescendi, or right of
survivorship, rule

Consequence ­ a joint tenant cannot leave his/her interest to another person in
his/her will

A joint tenant is free, however, to sever the joint tenancy, thereby creating a
tenancy in common.


If they die at the same time:
PLA 184 ­ Where two or more persons have died in
circumstances rendering it uncertain which survived, such deaths shall be
presumed to have occurred in order of seniority and the younger is deemed to
have survived the elder.

iii. Requires Four Unities (If one is missing - TIC, if Unity of Possession is missing =
NEITHER)

1.
Possession
­ each co­owner is entitled to possession of the whole property o

Each co­owner is entitled to possession of the whole of the property, not
exclusively for himself or herself but to be enjoyed together with the
other joint tenants

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