An Introduction to Co-Ownership and Trusts of Land
Introduction to Co-ownership and Trusts of Land
Remember this for the exam to work through a problem question:
The first question is whether there is a legal ownership or an equitable one? For legal ownership the answer is always joint tenancy because under s34-36&s1 LPA. Tenancy in common in the act is related to by under divided shared. The reason they decided that legal title should be in joint tenancy in 1925 was to make conveyancing proper. In joint ownership each legal owner owns the whole thing.
Considering the equitable ownership is held you need to ask; you would ask is there a unity of possession? Are each of them entitled to be in possession of the whole piece of land, if the answer is no then there is no co ownership because you don't have either tenancy in common or joint tenancy.
However if there is unity of possession if there is unity of interest (one can't be a freeholder and one can't be a leaseholder) , if there is a unity title ( it must be through the same document or act) and finally if there is a unity of time ( their interest should be attained at the same time, when the co ownerships interest in the Land starts), if we don't have all three of the last unities then we have a tenancy in common whereas if we do have all of them we to keep In mind all that can be overridden by an express declaration of that? So you have to ask is there an express declaration in that?
Formalities of express declaration of trust is in the LPA act 1925. If you do have an express declaration then this is shown in goodman v gallant. Then it results in whatever it says. If the answer is no then you have to consider if there is words of severance.
If the answer is yes then it is tenancy in common however if the answer is no then equity will presume a) if there is a unequal contribution to purchase price then it is a tenancy in common or b) if there is any business or commercial purchase then it will lead to a tenancy in common because due to right of
Remember this for the exam to work through a problem question:
The first question is whether there is a legal ownership or an equitable one? For legal ownership the answer is always joint tenancy because under s34-36&s1 LPA. Tenancy in common in the act is related to by under divided shared. The reason they decided that legal title should be in joint tenancy in 1925 was to make conveyancing proper. In joint ownership each legal owner owns the whole thing.
Considering the equitable ownership is held you need to ask; you would ask is there a unity of possession? Are each of them entitled to be in possession of the whole piece of land, if the answer is no then there is no co ownership because you don't have either tenancy in common or joint tenancy.
However if there is unity of possession if there is unity of interest (one can't be a freeholder and one can't be a leaseholder) , if there is a unity title ( it must be through the same document or act) and finally if there is a unity of time ( their interest should be attained at the same time, when the co ownerships interest in the Land starts), if we don't have all three of the last unities then we have a tenancy in common whereas if we do have all of them we to keep In mind all that can be overridden by an express declaration of that? So you have to ask is there an express declaration in that?
Formalities of express declaration of trust is in the LPA act 1925. If you do have an express declaration then this is shown in goodman v gallant. Then it results in whatever it says. If the answer is no then you have to consider if there is words of severance.
If the answer is yes then it is tenancy in common however if the answer is no then equity will presume a) if there is a unequal contribution to purchase price then it is a tenancy in common or b) if there is any business or commercial purchase then it will lead to a tenancy in common because due to right of