Tenancy In Common - Law Dictionary Search Results
Home Dictionary Name: tenancy in commonTenancy in Common
Tenancy in Common. Legal estate in undivided shares inland has been abolished by the Law of Property Act, 1925, s. 1, which reduced the interest of tenants-in-common to that of a cestui que trust under a trust for sale of land. The following notes have been kept verbatim to explain titles as they existed immediately before 1926. This estate is created when several persons have several distinct estates, either of the same or of a different quantity, in any subject of property, in equal or unequal shares, and either by the same act or by several acts, and by several titles, and not a joint title. A tenancy-in-common will, as a rule, be construed to exist wherever the instrument creating it indicates that the land is to be held in shares, equally, or in moieties, or the nature of the transaction is such as to preclude the intention of survivorship such as an acquisition of land by partners for the purposes of their business.A tenancy-in-common differs from a joint-tenancy in this respect:...
tenancy in common
tenancy in common see tenancy ...
Joint-tenancy
Joint-tenancy. This tenancy is created where the same interest in real or personal property is, by the act of the party, passed by the same matter of conveyance or claim in solido, and not as merchan-dise, or for purposes of speculation, to two or more persons in the same right, either simply, or by construction or operation of law jointly, with a jus accrescendi, that is, a gradual concentration of property from more to fewer, by the accession of the part of him or them that die to the survivors or survivor, till it passes to a single hand, and the joint-tenancy ceases.Anciently, joint-tenancy was favoured because it did not induce fractions of estates, and returning to early principles the (English) Land Legislation of 1925 has employed the tenure generally as the machinery by which legal estate may in such cases always be in some person, called the estate owner, who is competent to give a title to the whole estate without the concurrence of other parties. that legal estate has been ...
tenancy
tenancy pl: -cies 1 : the holding of or a mode of holding an estate in property: a : a form of ownership of property : tenure b : the temporary possession or occupancy of property that belongs to another holdover tenancy : a tenancy that arises when one remains in possession of property after the expiration of the previous tenancy (as one under a lease), that may be established as a tenancy at will by the recognition of the landlord (as by accepting rent), and that may sometimes be statutorily converted to a periodic tenancy for the same or a different term than that of the original tenancy [liable for payment of rent in a holdover tenancy] called also tenancy at sufferance joint tenancy : a tenancy in which two or more parties hold equal and simultaneously created interests in the same property and in which title to the entire property is to remain to the survivors upon the death of one of them (as a spouse) and so on to the last survivor [a right to sever the joint tenancy]...
Estate
Estate [fr. status, Lat.; etat, Fr.], the condition and circumstance in which an owner stands with regard to his property. The word is used in several senses and may denote either an estate in land; or an estate in property other than land; a legal estate or an equitable estate, land being an immovable is capable of being the subject of many estates existing concurrently with each other, thus the absolute ownership or fee simple may be leased and sub-leased, mortgaged and charged, each of the holders of these estates having a good legal or equitable estate at the same time; again, estates may be in possession, or in futuro; personal property may also be subject concurrently to a variety of ownerships, according to its nature; technically, in regard to land, the word is used to denote the quantity of interest, e.g., estate in fee simple, for life, for years, etc., in either legal or equitable estates. In practice its most important division is into real estate and personal estate, altho...
common
common 1 a : of or relating to a community at large : public [ defense] b : known to the community [a thief] 2 : belonging to or shared by two or more persons or things or by all members of a group [when the insured and the beneficiary perish in a disaster] [ areas of the building] 3 : of or relating to common stock [ shares] n 1 pl cap : house of commons 2 : the legal right of taking a profit in another's land in common with the owner or others [the of estovers] [the of pasture] 3 : a piece of land subject to common use: as a : land jointly owned and used esp. for pasture b : a public open area in a municipality 4 : a condition of shared ownership : a condition in which a right is shared with an interest held by another person [held the estate in ] see also tenancy in common at tenancy compare severalty 5 : common stock at stock ...
Party-wall
Party-wall, a term which has been used indifferent senses, may mean (1) a wall of which the two adjoining owners are tenants in common: (2) a wall divided longitudinally into two strips, one belonging to each of the neighbouring owners: (3) a wall which belongs entirely to one of the adjoining owners, but is subject to an easement or right in the other to have it maintained as a dividing wall between the two tenements: (4) a wall divided longitudinally into two moieties, each moiety being subject to a cross easement in favour of the owner of the other moiety, Watson v. Gray, (1880) 14 Ch D 192.The common use of a wall separating adjoining lands of different owners is prima facie evidence that the wall and the land on which it stands belongs to the owners of those adjoining lands, in equal moieties, as tenants in common, or would so belong if tenancy in undivided shares in a legal estate had not been done away with by the land legislation of 1925. Now under s. 38, and 1st Sch., Part 5, ...
Personal property
Personal property, money, goods, cattle, chattels, stocks, shares, securities, debts, etc., and also leases for years, however long. Personal property is either in possession, or in action, where a man has not the actual occupation of the thing, but only a right to it arising upon some contract, and recoverable by an action at law.Any person may assign personal property, including chattels real, directly to himself and another person or other persons or corporation, by the like means as he might assign the same to another, Law of Property Amendment Act, 1859, s. 21.This was extended by the (English) Emergency Act, 1881, to conveyances of freehold land or choses in action by a husband to a wife or e contra. Now, by the (English) Law of Property Act, 1925, s. 72, a person may convey real or personal property to himself alone.In the case of real property there can be no such thing as an absolute ownership in the subject-matter, i.e., land; the utmost that any one, even an owner in fee sim...
Tenancy by the entirety
Tenancy by the entirety, means a tenancy that is shared by spouses who are considered one person in law and have the rights of survivorship inherent in joint tenancy and that becomes a tenancy in common in the event of divorce, Mays v. Brighton Bank, 832 SW 2d 347....
Statutory tenant
Statutory tenant, a person remaining in occupation of premises let to him after the determination of or expiry of the period of the tenancy is commonly, though in law not accurately, called a statutory tenant. Statutory tenant being a person who enjoys the status of irremovability, would enjoy the protection of the statute until he is evicted from the premises under the enabling provisions of the statute. A statutory tenancy would, therefore, come to an end on either the surrender of premises by such a tenant or if a decree of eviction, Biswabani Pvt. Ltd. v. Santosh Kumar Dutta, AIR 1980 SC 226: (1980) 1 SCR 650: (1980) 1 SCC 185.Statutory tenant, a tenant continuing in possession of a rented land or building after its termination of tenancy is 'statutory tenant', AIR 1989 P&H 9(10). [Haryana Urban Control of Rent and Eviction) Act, 1973, s. 4(2)(b)]Statutory tenant, can be described more conveniently as a tenant whose contractual tenancy has been terminated, Ratanlal v. Raniram, 1986...
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