- Victoria SaylesVictoria SaylesVisiting Lecturer, BPP and University of Law
Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses the co-ownership of property. Co-owned property is where two or more people are entitled to possess and enjoy the property at the same time. Today, there are two types of co-ownership: a joint tenancy and a tenancy in common. Co-owned property is held on trust and, since the Trusts of Land and Appointment of Trustees Act 1996 (TLATA) this is generally a trust of land. Legal title can only be held as a joint tenancy, by a maximum of four people. Equitable title can be held as a joint tenancy or a tenancy in common by an unlimited number of people. A joint tenancy in equity, but not at law, can be severed to create a tenancy in common. Disputes between co-owners may be dealt with by making an application to court. Where a co-owner becomes bankrupt, the trustee in bankruptcy must make an application to court to request a sale of the co-owned property.