today:
18
yesterday:
174
Total:
999,498

부동산

Four unities

2019.04.03 20:36 Views : 141

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 2075
Notice 부동산 용어 (A to Z) 2019.03.03 1321
171 Chapter 7 Conclusion 2019.04.14 115
170 Real Estate Practice - 16 (Understanding-Answers) 2019.04.14 55
169 Real Estate Practice - 15 (Understanding-Answers) 2019.04.14 44
168 Chapter 6 Quiz 2019.04.13 541
167 Chapter 6 Conclusion 2019.04.13 51
166 Real Estate Practice - 14 (Understanding-Answers) 2019.04.13 40
165 Real Estate Practice - 13 (Understanding-Answers) 2019.04.13 56
164 Chapter 5 Quiz 2019.04.13 495
163 Chapter 5 Conclusion 2019.04.13 40
162 Real Estate Practice - 12 (Understanding-Answers) 2019.04.13 43
161 Real Estate Practice - 11 (Understanding-Answers) 2019.04.13 42
160 Chapter 4 Quiz 2019.04.13 117
159 Real Estate Practice - 10 (Understanding-Answers) 2019.04.13 41
158 Using the Internet 2019.04.13 42
157 Real Estate Practice - 9 (Understanding-Answers) 2019.04.13 45
156 Chapter 3 Quiz 2019.04.13 327
155 Real Estate Practice - 8 (Understanding-Answers) 2019.04.13 51
154 Real Estate Practice - 7 (Understanding-Answers) 2019.04.12 65
153 Real Estate Practice -6 (Understanding-Answers) 2019.04.12 57
152 Chapter 2 Quiz 2019.04.12 213
151 Real Estate Practice -5 (Understanding-Answers) 2019.04.12 42
150 Real Estate Practice -4 (Understanding-Answers) 2019.04.12 139
149 Chapter 1 Quiz 2019.04.11 178
148 Chapter 1: Introduction to Real Estate Summary 2019.04.11 86
147 Real Estate Practice -3 (Understanding-Answers) 2019.04.11 102
146 Real Estate Practice -2 (Understanding-Answers) 2019.04.11 122
145 Real Estate Practice -1 (Understanding-Answers) 2019.04.11 113
144 California: Real Estate Principles 2019.04.05 429
143 Which are the four elements required for a valid contract? 2019.04.03 438
» Four unities 2019.04.03 141