today:
132
yesterday:
242
Total:
1,004,290

부동산

Four unities

2019.04.03 20:36 Views : 147

Unity of time 
Interest must be acquired by both tenants at the same time.
In common law, the "time" requirement could be satisfied only by using a "straw man" to create a joint tenancy. The party creating the joint tenancy would have to convey title to a straw man, who would then transfer title to the two parties as joint tenants.
Unity of title 
The interests held by the co-owners must arise out of the same instrument.[1]
Unity of interest 
Both tenants must have the same interest in the property.
This means that the joint tenants must have the same type of interest, and the interest must run for the same duration. For example, if X and Y create a joint tenancy, both X and Y's interests must be in fee simple absolute. If, for example, X has a fee simple absolute and Y has a life estate, there is no unity of interest.
Unity of possession 
Both tenants must have the right to possess the whole property.

If any of the four unities is broken and it is not a joint tenancy, the ownership reverts to a tenancy in common.

The unique aspect of a joint tenancy is that as the joint tenancy owners die, their shares accrue to the surviving owner(s) so that, eventually, the entire share is held by one person.

No. Subject Date Views
Notice 부동산 용어사전 2019.04.15 2084
Notice 부동산 용어 (A to Z) 2019.03.03 1336
261 culmination 2019.05.22 150
260 Chapter Conclusion Chapter 14 2019.04.27 150
259 appraiser payment 2019.05.25 149
258 Real Estate Law 87 2019.05.15 147
257 Real Estate Law 64 2019.05.12 147
256 Real Estate Law 56 2019.05.11 147
» Four unities 2019.04.03 147
254 TEST 16 2019.03.10 147
253 TEST 9 2019.03.05 147
252 requirement be restored 2019.05.22 146
251 Orange County home median price $732,750 2020.02.01 144
250 Real Estate Law 69 2019.05.13 144
249 Performance and Forbearance / Default and Breach 2019.05.08 144
248 Law 1 2019.05.02 144
247 TEST 4 - Correction 2019.03.02 143
246 Real Estate License Laws and the Real Estate Commission 2019.02.27 143
245 Real Estate Settlement Procedures Act (RESPA) 2019.05.23 142
244 Real Estate Practice -4 (Understanding-Answers) 2019.04.12 142
243 Chapter 4 - TEST 2019.03.02 142
242 Review Chapter 10 2019.05.12 141
241 Chapter 2 Review 2019.05.04 141
240 Movies/television/media 2018.08.26 141
239 Chapter 14 Conclusion 2019.05.16 139
238 Exam Essentials 2019.03.01 139
237 Mortgage demand falls to lowest level in 22 years 2022.06.11 139
236 Chapter 27 Conclusion 2019.03.27 138
235 The California Real Estate Commissioner 2019.02.28 138
234 Chapter 2 Conclusion 2019.03.01 136
233 Real Estate Law 32 2019.05.08 134
232 Law 3 2019.05.03 134