Law of property Essay Example | Topics and Well Written Essays - 1500 words - 2

Law of property - Essay ExampleThe wiz of interest element requires parties to a colligation tenancy to have the same type of interest and relate share in the property5. If the unity of interest requirement negated, this results in severance of the joint tenancy into a tenancy in common6.With regard to the unity of title requirement, this stipulates that the parties proprietary interests in the property must profit from the same profound title and at the same time. Commonly this will require evidence through and through deed or will7. Unity of time can often be problematic and academic dialogue has significantly criticised this requirement particularly due to the requirement that property rights must vest in for each one joint tenant simultaneously8.In applying these principles to the current scenario, Albert used the proceeds of the sale of Sunrise Lodge to leverage Greengables. It is evident that Barbaras mortgage payments to Sunrise Lodge accounted for 30% of the over any p urchase costs and as such, the proceeds of the sale of Sunrise Lodge were held on trust for Barbara under constructive trust9. With regard to Greengables, Albert, Barbara and Charles bought the prop together in 1997 with the conveyance expressed as being in the joint names of all three parties. On this basis, it would appear that at the time of purchase, the four unities requirement for the existence of a joint tenancy have been complied with. Accordingly, at the time of purchase, Albert, Barbara and Charles held the Property as joint tenants in equal shares. However, the legal joint tenancy can be rebutted if the factual reality of the ownership arrangement falls within the equitable presumption of a tenancy in common10.The conditions for the equitable presumption of a tenancy in common were extrapolated in the case of Robertson v Fraser11, where Lord Hatherley highlighted that any