Study guide
Co-ownership and Trusts
- Course
- Institution
Comprehensive textbook, lecture and academic notes on Topics in English Land Law. Includes key cases, analysis of the law, academic criticism and my own comments. Got me a 1st
[Show more]
Seller
Follow
edwardasmith
Reviews received
Content preview
4 – CO-OWNERSHIP and TRUSTSThere are two ways to hold land in co-ownership:
1. Successive co-ownership – land held by trustees for successive persons (eg A for life, then B for
life, C in remainder); since 1 Jan 11997, all new successive interests governed by TOLATA 1996
(not on syllabus!)
2. Concurrent co-ownership – land held on trust for 2+ persons entitled to simultaneous
enjoyment; governed by LPA 1925 and TOLATA 1996; can be joint legal owners or joint equitable
owners with a single RP
a. Where single trustee, s 23 gives them owner’s powers and s 58 guarantees the title –
trustee deals with the land
Concurrent Co-Ownership
Since 1 Jan 1926, two types of concurrent ownership: joint tenancy and tenancy in common. (Can be JT/
TIC of any property, not just freeholds – we will look at freeholds and leaseholds).
If parties are married, solicitor will usually assume parties want JT; otherwise, tend to assume TIC (In a
problem question, if ‘advise the parties’ make sure to advise about benefits vs downsides of JT and TIC).
Joint Tenancy
In a JT, the entire interest in land is vested simultaneously in each of the JTs. Distinguishing features are
the right of survivorship and the four unities.
Survivorship
JTs own estate jointly, with no individual ‘shares’, so JT cannot pass title on death – the entire interests
‘survives’ to the remaining JTs.
There is no need for transfer, conveyancing etc – automatic. There is nothing to convey after
death – the dead JT is simply removed from the register by the Land Registry.
If multiple JTs die in the same incident, making it unclear which of them survived the others, the
deaths will be presumed to have occurred in order of seniority – youngest survives for purpose
of title (s 184 LPA 1925).
- Hickman v Peacey (1945) (4 men died by bomb, 2 wills benefitting the others; s 184 applied)
- Re Lindop (1942) (H + W died by air raid, died same time; s 184, W deemed to survive)
JT can convert their joint tenancy into TIC by severance at any time; this must occur during JT’s life – it
cannot be effected by will (Gould v Kemp (1834)).
Four Unities
JT cannot exist without the four unities – if one is missing, it will be TIC (if all present, could still be TIC).
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller edwardasmith. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.81. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now