This document provides a summary of the key differences between tenancy in common, joint tenancy, and tenancy by the entirety. It notes that tenancy in common does not have right of survivorship, while joint tenancy and tenancy by the entirety do. It also describes some additional details regarding mortgages and the rights of each co-tenant, such as the right to possess the whole property but not demand rent from other co-tenants.
This document provides a summary of the key differences between tenancy in common, joint tenancy, and tenancy by the entirety. It notes that tenancy in common does not have right of survivorship, while joint tenancy and tenancy by the entirety do. It also describes some additional details regarding mortgages and the rights of each co-tenant, such as the right to possess the whole property but not demand rent from other co-tenants.
Original Description:
A chart to use to remember the different types of concurrent estates
This document provides a summary of the key differences between tenancy in common, joint tenancy, and tenancy by the entirety. It notes that tenancy in common does not have right of survivorship, while joint tenancy and tenancy by the entirety do. It also describes some additional details regarding mortgages and the rights of each co-tenant, such as the right to possess the whole property but not demand rent from other co-tenants.
This document provides a summary of the key differences between tenancy in common, joint tenancy, and tenancy by the entirety. It notes that tenancy in common does not have right of survivorship, while joint tenancy and tenancy by the entirety do. It also describes some additional details regarding mortgages and the rights of each co-tenant, such as the right to possess the whole property but not demand rent from other co-tenants.
Tenancy in Common Joint Tenancy Tenancy by the Entirety
Requirement Unity in possession TTIP: Time, Title, Interest, Possession TTIPP: Time, Title, Interest, Possession, Person Transfer of Interest Does not sever tenancy in common Joint tenancy severed Right of Survivorship? No Yes Yes Additional Notes Mortgages: Both joint tenants join in a mortgage of the property=no effect on joint tenancy One joint tenant mortgages his interest=effect on joint tenancy dependent on title or lien theory jurisdiction o Title: legal interest transfers to mortgagee severing the joint tenancy o Lien: mortgagee only receives lien on the property; no severance Simultaneous death: estate of each takes one half
Rights Each co-tenant entitled to possess the whole property Wrongful ouster: one co-tenant wrongfully excludes other from possession from any part of the jointly held property Rent: out-of-possession co-tenant does not have right to demand rent from co-tenant in actual possession, unless possessing co-tenant exploited the property (permanent depreciation or effected a wrongful ouster) Repair: o Common law: cannot seek contribution from other co-tenant o Modern trend: contribution may be compelled for necessary repairs if repairs were requested by repairing tenant and refused by the others Improvements: co-tenant has no right to seek contribution unless the improvements generate increased rents or profits; improvement costs only recoverable in partition suit CONCURRENT ESTATES CHART