JT TIC “O: To A, B, C, D, as joint tenants, “O: To A and B” full rights of survivorship” Intent + 4 unities: time, possession, Default: Presumed to be TIC unless title, interest (if fail one of these at Creation there is explicit language that it is time of attempted formulation, then supposed to be a JT back to TIC) Rights of survivorship: does not go to Death Goes to heirs heirs, automatically passes to other JT’s Partition in kind, partition by sale Partition in kind, partition by sale, Defeat one of the unities adverse possession (open & notorious, Death Destruction continuous, exclusive possession, claim If you try to sell your share, it of title, actual entry, adverse) becomes a TIC Adverse possession Divided / Undivided Undivided interest in the whole Undivided interest in the whole Interest in property property regardless of share property regardless of share use Equal / Unequal Can have unequal shares Equal shares Shares No need to go to probate court Have to go to probate court Death Death Advantages / Easier if kids are JT’s Interest to anybody Disadvantages Straw man – shady business Creditors can get to this property after Creditors can’t get to this property you die after you die Relations Gone Sour Partition in Kind Partition by Sale Other Considerations Sell land, divide money by share (when tenants Consider Delfino Distinguishing Split land based on can’t work it out) Minority Rule: Characteristic person’s interest Use when partition in sentiment with the land kind (Look at Delfino) Still have land Easy If there is sentiment Johnson v. Hendrickson: A lot of courts go this with the land, then good maximizes value of the Preference / way Applies to life estate land; aren’t concerned Advantages Gives you max value of But hard to divide with emotional land (fair market) Can diminish value of attachment of the land MAJORITY land by split Examples
TIC “O: To A and B” JT “O: To A, B, C, D, as joint tenants, full rights of survivorship” Creation Default: Presumed to be TIC unless there is explicit language that it is supposed to be a JT Intent + 4 unities: time, possession, title, interest (if fail one of these at time of attempted formulation, then back to TIC) Death Goes to heirs Rights of survivorship: does not go to heirs, automatically passes to other JT’s Destruction Partition in kind, partition by sale, adverse possession (open & notorious, continuous, exclusive possession, claim of title, actual entry, adverse) Partition in kind, partition by sale Defeat one of the unities Death If you try to sell your share, it becomes a TIC Adverse possession Divided / Undivided Interest in property use Undivided interest in the whole property regardless of share Undivided interest in the whole property regardless of share Equal / Unequal Shares Can have unequal shares Equal shares Advantages / Disadvantages Have to go to probate court Death Interest to anybody Creditors can get to this property after you die No need to go to probate court Death Easier if kids are JT’s Straw man – shady business Creditors can’t get to this property after you die Relations Gone Sour Partition in Kind Partition by Sale Other Considerations Distinguishing Characteristic Split land based on person’s interest Sell land, divide money by share (when tenants can’t work it out) Use when partition in kind (Look at Delfino) Consider Delfino Minority Rule: sentiment with the land Preference / Advantages Still have land If there is sentiment with the land, then good Applies to life estate But hard to divide Can diminish value of land by split Easy A lot of courts go this way Gives you max value of land (fair market) MAJORITY Johnson v. Hendrickson: maximizes value of the land; aren’t concerned with emotional attachment of the land Examples
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