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š Severance of Co-ownership: Legal Pathways to Property Independence
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We explore severance of joint tenancies in property co-ownership, focusing on when equity automatically assumes a tenancy in common and the methods by which severance can be effected.
ā¢ Equity automatically assumes a tenancy in common in commercial situations where parties are business partners (Lake v Craddock)
ā¢ Individual business purposes for property also creates an automatic tenancy in common (Malayan Credit v Jack Chia)
ā¢ Section 36(2) of LPA 1925 allows severance by written notice without requiring agreement from other joint tenants
ā¢ Notice must show clear intention to sever but doesn't require signature
ā¢ Alienation (selling, mortgaging or bankruptcy) converts a joint tenant's interest into a tenancy in common
ā¢ When a joint tenant becomes bankrupt, their share vests in the trustee in bankruptcy
ā¢ With multiple joint tenants, severance by one only affects their share while others remain joint tenants
ā¢ The principle "once severed, always severed" means severance cannot be undone
ā¢ All dispositions of equitable interests must be in writing per Section 53(1)(c)
š”āļø Letās learn the law togetherāone session at a time!
Chapters
1. Severance of Co-ownership: Legal Pathways to Property Independence (00:00:00)
2. Auto-assumed Tenancy in Common (00:00:11)
3. Severance by Notice Under LPA 1925 (00:04:29)
4. Acting on One's Share (00:09:30)
5. Effects of Bankruptcy on Joint Tenancy (00:11:55)
6. Once Severed, Always Severed (00:13:51)
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