This article discusses the Law of Property Act, 1925 and its provisions on co-ownership, joint tenancy, tenancy in common, and right of survivorship. It also cites relevant case law and provides advice for a hypothetical scenario.
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Running Head: Law of Property Act, 1925 Title: Assignment Name: Student Name Course Name and Number: Professor: Date:
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Law of Property Act, 1925 Table of Contents Introduction:.........................................................................................................3 Law of Property Act, 1925...................................................................................3 Conclusion:...........................................................................................................5 References.............................................................................................................6
Law of Property Act, 1925 Introduction: That it is general viewunderthe provisions of the Law of Property Act, 1925 that the when the land is owned by more than one owner by way of trust of landthen it is considered as co- ownership.Furthermore, Itis most important to mention here that the co-ownership is of two types such as joint tenancy and tenancy in common1. In the joint tenancy, all the co-owners will hold the property collectively. In the tenancy in common, each of the owners will share the property by specific shares such as 50% share or 80% share. It is furthermore relevant to mention here that when the land is conveyed to the names of the more than one person than the co-ownership of legal title would arise. As perSection 1(6) of the Law of Property Act, 1925, the co-ownership of the legal title could only be through the joint tenancy. Further, it is submitted that as perSection 36(2) of the said act, there can be no severance to the legal joint tenancy, to create the tenancy in common. In the present case, it is clear that A, B, C and D had purchased the house in the year 2014 and the same was transferred in their joint names. It is furthermore relevant to mention here that as the property is the co- ownership of all the purchasers as the same was legally transferred in their joint names and in that way they are the co-owner of the legal title. Law of Property Act, 1925 That as per the provisions of the Law of Property Act, 1925 and from the facts of the present case, it is prima facie clear that the Joint tenants are the entitled equally to the property in total and it does not have the shares of individual in it. It is furthermore relevant to mention here that in case the property is sold then all the co-owners are entitled to the shares of the 1Des Butler, 'Enforcement Of Third Party Rights In Queensland under Property Law Act 1974 (Qld), S55' (1998) 14 QUT Law Review.
Law of Property Act, 1925 sale equally2. It is most important to mention here that the joint tenancy is the right to survivorship3, which means that in case the joint tenant dies then the interest would automatically go to the other remaining or the other joint tenants. In the present case also itis prima facie clear that A and B die unfortunately and in that case,E( thelegal heir of B), G(legal heir of A),C and D became the joint owners of the property in question. In case the D proceeds to sell the house thenthe others includingC will get the equal share in the said sale.It is furthermore relevant to mention here that inWilliams V Hensmanit is specifically stated that the equitable joint tenants do not own the share or the joint stake in the property. It is furthermore submitted that inAV Securities V. Vaughan (1988) UKHL 8,the Hon'ble court had specifically decided the issue of the role of exclusive possession. The facts of the case are that the AV Securities was the unlimited company and having various properties including the property at 25 Linden Mansions, Hornsey Lane, London having four bedrooms and communal areas. The AV securities rented the said place to the Vaughan and three others, but each one moved at the other times in the year 1982 and further signed the independent agreements. In the year 1985, the AV Securities terminated all the agreements, but the tenants claimed that they held the joint tenancy and had a remedy of statutory protection. Earlier the Judge held that there was no lease, but the court of appeal reversed the judgment4. After that, the House of Lords held that Vaughan is the only co-tenant and not the others because of the reason that none has the exclusive possession and their rights could not be segregated in the joint lease. Further, in the case, Lord Templeman held that the tenants could be described as those people who are entitled to the protection of security. 2Mahendra Raj and Mazda Abdul-Malik, 'OWNERSHIP, STRUCTURE AND AGENCY COSTS IN UK FIRMS' (2007) 4 Corporate Ownership and Control. 3Kristen Cognetti and Megan Dunne, 'The Survivorship Care Model At MSKCC' (2013) 35 Oncology Times. 4T. R. W., 'Real Property — Restrictive Covenant — No Building Scheme — Covenants Not Expressed To Be For The Benefit Of Adjacent Land—Covenants No Longer Effective—Declaration By Court Under Law Of Property Act, 1925, S. 84, Sub-S. 2—Land Registration Act, 1925, S. 82.' (1932) 4 The Cambridge Law Journal.
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Law of Property Act, 1925 Conclusion: In the end, it is concluded that from the provisions of the Law of Property Act, 1925 as well from the decided case law, it is clear that after the death of the one of the co-owner5, their interest would go to theSurvivors as well asother co-owner asperthe right of survivorship. From the given facts and circumstances C is advised that if he wants to hold the property he can purchase the share of Dand other Co-owners, i.e., E and Gand in case C wants to reside then he can purchase the share of Dand other co-ownersotherwise he can take share from the proceedings of sale6. 5Joseph Warren, 'The Law Of Property Act, 1922' (1923) 21 Michigan Law Review. 6E. H., 'Licenses: Tenancy In Common: Effect Of License Granted By One Tenant In Common' (1925) 13 California Law Review.
Law of Property Act, 1925 References Butler D, 'Enforcement Of Third Party Rights In Queensland under Property Law Act 1974 (Qld), S55' (1998) 14 QUT Law Review Cognetti KM Dunne, 'The Survivorship Care Model At MSKCC' (2013) 35 Oncology Times H. E, 'Licenses: Tenancy In Common: Effect Of License Granted By One Tenant In Common' (1925) 13 California Law Review Raj M Abdul-Malik, 'OWNERSHIP, STRUCTURE AND AGENCY COSTS IN UK FIRMS' (2007) 4 Corporate Ownership and Control T. R. W., 'Real Property — Restrictive Covenant — No Building Scheme — Covenants Not Expressed To Be For The Benefit Of Adjacent Land—Covenants No Longer Effective— Declaration By Court Under Law Of Property Act, 1925, S. 84, Sub-S. 2—Land Registration Act, 1925, S. 82.' (1932) 4 The Cambridge Law Journal Warren J, 'The Law Of Property Act, 1922' (1923) 21 Michigan Law Review