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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)
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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
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Right of Survivorship
- pon the death of one joint tenant, the surviving joint tenants automatically
- receive equal shares from the deceased joint tenant
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Tenancy by the entirety
- a form of joint tenancy limited to married couples
- about half of the states allow this form of spousal ownership
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Community Property
Property acquired during marriage that is owned equally by the spouses.
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Separate property
Property of a spouse that does not become part of the community property.
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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.
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prenuptial agreements
agreements made prior to marriage between prospective spouses that limit or waive a spouse's right to marital property.
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Postnuptial agreement
agreements made after a marriage that limit or waive a spouse's right to marital property
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Common law marriage
A state recognition of marital status for unmarried couples who hold themselves out to the public as if they are married.
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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.
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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
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ouster
A forceful removal or not allowing a co-tenant access to the premises.
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