3 legal concepts: -Joint tenancy -Tennancy in Common -Tusts of land
Legal estate held on joint tenancy
Where there is more than one owner of the legal estate, the legal estate must be:
-Held by the legal owners as joint tenants;
-Held by them on a trust of land.
Four unities are necessary for a joint tenancy to exist:
-Time: The interests of all must vest at the same time.
-Title: All must derive their title from the same document.
-Interest: All must have the same interest.
-Possession: All must be equally entitled to possession of the whole land.
Key Definition: Joint Tenancy
Exits where there are no shares i.e. all the joint tenants own all the land jointly and the four unities are present.
Two Vital Points :
1. Co-owners cannot hold the legal estate as tenants in common.
2. The distinguishing feature of joint tenancy is the right of surveyorship: as joint tenants have no individual share, they cannot leave any part of their joint tenancy by will, nor does it pass under the intestacy rules. Instead it passes to the surviving joint tenants. Section 184 of the LPA 1925 provides that where deaths occur in circumstances making it uncertain which died first, then the younger shall be deemed to have survived the elder (Hickman v Pearcey (1945)).
The legal estate to blackacre is held by the X and Y. This means that :
- They are are joint tenants
-There is a trust of land
X dies. The legal estate automatically vests in Y only.
Number of Joint tenants
section 34(2), LPA 1925
Where the land is conveyed to co-owners who are of full age they: