Final Midterm

  1. Tenancy in Common
    • co-ownership of real property in which parties may hold equal or unequal shares in the land and have separate but undivided interests in the entire property.
    • may be equal or unequal
    • can acquire interests at different times
    • interest can be sold, leased, etc...
    • each tenant is entitled to equal possession (not shares)
  2. Joint Tenancy
    • form of co-ownership in which two or more persons own equal shares of property, with the right of survivorship between the joint tenants
    • ownership by two or more
    • a form of concurrent ownership with survivorship
    • each person owns an equal share in the whole
    • equal right to possession
  3. Right of Survivorship
    • pon the death of one joint tenant, the surviving joint tenants automatically
    • receive equal shares from the deceased joint tenant
  4. Tenancy by the entirety
    • a form of joint tenancy limited to married couples
    • about half of the states allow this form of spousal ownership
  5. Community Property
    Property acquired during marriage that is owned equally by the spouses.
  6. Separate property
    Property of a spouse that does not become part of the community property.
  7. Community property with right
    of survivorship
    • hybrid Community Property and Joint tenancy
    • the rules of community property are followed, but spouses cannot convey their one-half community property interest upon their death
    • the interest passes automatically to the surviving spouse.
  8. prenuptial agreements
    agreements made prior to marriage between prospective spouses that limit or waive a spouse's right to marital property.
  9. Postnuptial agreement
    agreements made after a marriage that limit or waive a spouse's right to marital property
  10. Common law marriage
    A state recognition of marital status for unmarried couples who hold themselves out to the public as if they are married.
  11. Dower
    right of a wife to take a life estate in one-third of the real property held by the husband during marriage. Any buyer of the land from the husband's estate would take subject to the wife's life estate.
  12. Curtesy
    the right comparable to dower that is given to a surviving husband. However, the husband has curtesy rights only if issue (children) were born from the marriage, and he receives a life estate in all his wife's lands (not 1/3
  13. ouster
    A forceful removal or not allowing a co-tenant access to the premises.
Author
tmredstone
ID
346222
Card Set
Final Midterm
Description
chapter 12
Updated