today:
1,204
yesterday:
2,073
Total:
1,301,107

부동산

Four unities

2019.04.03 20:36 Views : 180

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
151 Real Estate Practice -5 (Understanding-Answers) 2019.04.12 106
150 Real Estate Practice -4 (Understanding-Answers) 2019.04.12 178
149 Chapter 1 Quiz 2019.04.11 240
148 Chapter 1: Introduction to Real Estate Summary 2019.04.11 129
147 Real Estate Practice -3 (Understanding-Answers) 2019.04.11 162
146 Real Estate Practice -2 (Understanding-Answers) 2019.04.11 158
145 Real Estate Practice -1 (Understanding-Answers) 2019.04.11 153
144 California: Real Estate Principles 2019.04.05 476
143 Which are the four elements required for a valid contract? 2019.04.03 484
» Four unities 2019.04.03 180
141 TEST 요약 내용 2019.04.03 584
140 FINAL TEST 2 (50) 2019.04.02 18372
139 민사소송 소멸시효 (Statute of Limitations) 2019.04.02 139
138 FINAL TEST 1 (50-CORRECTION) 2019.04.01 15041
137 Order of payments in foreclosure 2019.04.01 155
136 Appraisal steps in order 2019.04.01 122
135 FINAL TEST 1 (50) 2019.04.01 4796
134 Natural Hazards Disclosure Act 2019.04.01 150
133 Leasehold Estates in Real Estate 2019.04.01 161
132 Wrranty Deed는 여섯 가지의 Covenant을 포함 2019.03.31 111
131 Settlement-Statement Worksheet 2019.03.27 190
130 TEST 27 2019.03.27 351
129 Chapter 27 Conclusion 2019.03.27 166
128 TEST 26 2019.03.27 157
127 Chapter 26 Conclusion 2019.03.27 108
126 TEST 25 2019.03.27 144
125 Chapter 25 Conclusion 2019.03.27 188
124 TEST 24 2019.03.27 193
123 Chapter 24 Conclusion 2019.03.26 115
122 TEST 23 2019.03.26 108