š Understanding Joint Tenancy vs. Tenancy in Common in Property Law
Manage episode 477886655 series 3649260
This deep dive into property co-ownership explores the crucial differences between joint tenancy and tenancy in common, with a focus on the process of severance. We clarify the legal complexities and equitable principles that determine how co-owners' property rights are protected and transferred.
⢠Joint tenancy requires four unities (PITT): Possession, Interest, Time, and Title
⢠Tenancy in common requires only the unity of possession
⢠In England, tenancy in common operates only in equity, not at law
⢠Each tenant in common holds an undivided individual share that can be passed through a will
⢠Severance converts joint tenancy into tenancy in common
⢠Methods of severance include written notice, alienation, mutual agreement, mutual conduct, or homicide
⢠Commercial partners and businesses may automatically be considered tenants in common
⢠Express declarations of beneficial interests determine share distribution upon severance
š”āļø Letās learn the law togetherāone session at a time!
Chapters
1. Understanding Joint Tenancy vs. Tenancy in Common in Property Law (00:00:00)
2. Introduction to Tenancy in Common (00:00:10)
3. Unity of Possession Explained (00:01:55)
4. Converting Joint Tenancy to Tenancy in Common (00:03:14)
5. Equitable Severance Methods (00:05:25)
6. Commercial Context and Partnerships (00:08:55)
104 episodes