Glossary
J
JOINT TENANTS and TENANTS IN COMMON – Property, whether real or
person, may be owned under joint tenancy or tenancy in common. Joint tenancy is
ownership in equal undivided shares, state to have the technical requisites of
unity of possession, interest, title and time. The most important
feature of joint tenancy is known as survivorship; on the death of one
joint tenant, that person’s share passes to the survivors so that they remain
joint tenants of the whole. Joint tenants are regarded collectively as a single
person in respect of their dealings with others. In the case of tenancy in
common, although each has an undivided share, such share is distinct and
separate. The interests need not be equal; thus ‘A’ may have one undivided third
share, and ‘B’ two undivided third shares of the same property. The most
important feature is that the share of a tenant-in-common may be separately
disposed of during a person’s lifetime, or by will. On death it passes, not to
the other tenants-in-common, but by will, or by the laws of
intestacy.
Back to top
Glossary
J
JOINT TENANTS and TENANTS IN COMMON – Property, whether real or
person, may be owned under joint tenancy or tenancy in common. Joint tenancy is
ownership in equal undivided shares, state to have the technical requisites of
unity of possession, interest, title and time. The most important
feature of joint tenancy is known as survivorship; on the death of one
joint tenant, that person’s share passes to the survivors so that they remain
joint tenants of the whole. Joint tenants are regarded collectively as a single
person in respect of their dealings with others. In the case of tenancy in
common, although each has an undivided share, such share is distinct and
separate. The interests need not be equal; thus ‘A’ may have one undivided third
share, and ‘B’ two undivided third shares of the same property. The most
important feature is that the share of a tenant-in-common may be separately
disposed of during a person’s lifetime, or by will. On death it passes, not to
the other tenants-in-common, but by will, or by the laws of
intestacy.
Back to top
Glossary
J
JOINT TENANTS and TENANTS IN COMMON – Property, whether real or
person, may be owned under joint tenancy or tenancy in common. Joint tenancy is
ownership in equal undivided shares, state to have the technical requisites of
unity of possession, interest, title and time. The most important
feature of joint tenancy is known as survivorship; on the death of one
joint tenant, that person’s share passes to the survivors so that they remain
joint tenants of the whole. Joint tenants are regarded collectively as a single
person in respect of their dealings with others. In the case of tenancy in
common, although each has an undivided share, such share is distinct and
separate. The interests need not be equal; thus ‘A’ may have one undivided third
share, and ‘B’ two undivided third shares of the same property. The most
important feature is that the share of a tenant-in-common may be separately
disposed of during a person’s lifetime, or by will. On death it passes, not to
the other tenants-in-common, but by will, or by the laws of
intestacy.
Back to top
Glossary
J
JOINT TENANTS and TENANTS IN COMMON – Property, whether real or person, may be owned under joint tenancy or tenancy in common. Joint tenancy is ownership in equal undivided shares, state to have the technical requisites of unity of possession, interest, title and time. The most important feature of joint tenancy is known as survivorship; on the death of one joint tenant, that person’s share passes to the survivors so that they remain joint tenants of the whole. Joint tenants are regarded collectively as a single person in respect of their dealings with others. In the case of tenancy in common, although each has an undivided share, such share is distinct and separate. The interests need not be equal; thus ‘A’ may have one undivided third share, and ‘B’ two undivided third shares of the same property. The most important feature is that the share of a tenant-in-common may be separately disposed of during a person’s lifetime, or by will. On death it passes, not to the other tenants-in-common, but by will, or by the laws of intestacy.