ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

How to Answer a Co-Ownership question in Land Law

Updated on February 18, 2011

Co-Ownership

A co-ownership question will always ask you two things:

· Trace the devolution of the legal and equitable interests

· Advise the remaining parties who are usually in a dispute if they can sell or occupy the land.

·

After 1996 = s.1 TOLATA, trust in land.

2 important differences: - joint tenant - tenancy in common.

*Joint tenants are what you will usually start with. This is the type of tenants that own the land jointly and equally (no one can later be added to this list).

For there to be joint tenants you must have the four unities:

1. Unity of time (Same time)

2. Unity of title (e.g. wills/sales/transfers)

3. Unity of possession (e.g. You can’t say I own the 1st floor)

4. Unity of interest (e.g. if the land is leased out they would split the rent equally no one person would get more of a share.)

· The first four people named hold the estate on trust for the remaining parties.

NB:// Cannot be a trustee under 18, thus it will be the next person named.

*Tenants in common, these are those with an equitable interest (Joint tenancy automatically gives you an express equitable interest – it is those entering the q later who join this list).

Events to look out for:

1) Death – Survivorship applies, cannot pass JT in will. The remaining share the %.

2) Mortgage – Cannot sever legal estate, change to T in C, those who mortgage their share will share T in C with bank.

3) Sell to a 3rd party – Cannot sever legal estate, change in T in C, sellers equitable % goes to buyer.

4) Buyer dies – Only change to T in C, those left real property to get equitable %.

5) Mutual agreement – e.g. to change JT’s. Must be between all parties.

6) Written notice?

7) Bankrupt?

Forcing Sale

Usually 3 scenarios:

1. Some partners want to sell

2. Bank/Mortgage wants to sell

3. Someone wants to stop a sale

In all scenarios:

Have to have at least 2 parties’ makings the sale.

If a sale went through the concept of overreaching would occur – purchasers to take the land free.

Actions under TLATA:

· Section 6 (5): Trustees have to have regards to the interests of beneficiaries

· Section 11: consult the beneficiaries, and give effect to majority (re to sale)

· Section 14: Right to make an application to the court

- This can be to force sale - Or for postponement of sale.

· Section 15: The court will look at the 5 factors under the act:

1. Intention of creator of trust

2. Purpose for which the property is held

3. Welfare of minors in occupation

4. Interests of secured creditors

5. Wishes of adult beneficiaries in occupation.

Case Law:

1. Oke v Rideout: Sec 15 factors are important but not exclusive

2. TSB v. Marshall: Creditors preferred unless exceptional circumstances

3. Achampong: Creditors preferred even when there was a disabled beneficiary in occupation

4. Bank of Ireleand v. Bell: Creditors should not be kept from what is rightfully theirs.

5. Chun v. Ho: Family interests are preferred where minor children are involved.


Comments

    0 of 8192 characters used
    Post Comment

    • profile image

      Bolu O 

      5 years ago

      Thank you. You do not understand how useful this page has been to me in answering a problem question on stopping a sale of land.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)