Synopsis
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 edition. Excerpt: ... Chapter V. ESTATES CLASSIFIED AS TO THE NUMBER OF OWNERS. Section 43. In General. Estates are divided, as regards the number of owners, into estates in severalty and joint estates. An estate in severalty is one where there is individual ownership. An estate of this character needs no further explanation. Joint estates include all those estates where two or more persons have a right of ownership or possession in the same land at the same time. Joint estates are subdivided into joint tenancies, estates in common, estates in entirety, estates of coparcenary, and estates held by partnerships. Section 44. Joint Tenancy. A joint tenancy is an estate held by two or more persons jointly so that during the lives of all they are equally entitled to the enjoyment of the land. Upon the death of one, his share vests in the survivor or survivors until there is but one survivor, when the estate becomes one in severalty in him. There may be a joint tenancy in fee, for life, or for years. A joint tenancy can only be created by purchase; it cannot be acquired by descent. In the creation of a joint tenancy, four unities must be present, viz.; interest, title, time and possession. One tenant cannot hold for life and another in fee or one by one deed and another under a will. The estate of all must vest at the same time in order that there may be unity of time. One tenant cannot hold in possession and another in reversion or remainder. Joint tenants, thus, must have one and the same interest arising from one and the same conveyance, commencing at one and the same time, and held by one and the same possession. Another incident of joint tenancy is the peculiar doctrine of survivorship. Survivorship is the doctrine whereby the interest of a joint tenant upon...
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