Land Law: Co-ownership Test
Questions with Correct Answers.
what is co-ownership/concurrent ownership? - Answer Two or more people together own
the same estate in the same piece of land at the same time
What governs the law of co-ownership? - Answer Trusts of Land and Appointment of
Trustees Act 1996
When a land is jointly owned, and a trust of land is imposed, how is this separated? - Answer
Into:
- Legal title
- Equitable title
Who is the legal title held by? - Answer Trustees
Who is the equitable title held by? - Answer Beneficiaries
What is involved in the title of a trustee? - Answer - Registered owner(s) at Land Reg
- Carries powers and duties of management which involve:
- signing documents
- execute mortgage and transfer deeds
Does a trustee enjoy rights of enjoyment over land? - Answer NO
What is involved in the title of a beneficiary? - Answer - BENEFIT from the trust
- Names are kept private and arrangements relating to the equitable title do not appear on the
reg
- Regarded in equity as the 'equitable owner' and have a proprietary right in the land subject to
the trust.
- Interest only takes effect in equity
What are the two different kinds of trusts that can arise? - Answer Express trust
Implied trust
, What formalities are required for the creation of an express trust? - Answer EVIDENCED in
writing, and signed by declarants
What is an implied trust? - Answer Created impliedly, arises under certain circumstances
What are the different types of implied trust? - Answer - Resulting trust
- Constructive trust
What is a resulting trust? - Answer Its a trust that 'results' from the circumstances/actions of
the parties involved rather than created from formal agreement.
one person holds legal title to property, but is considered to hold it for the benefit of another
person.
Imposed where failed express trust.
What is a constructive trust? - Answer Where someone holds legal title to property BUT
holds it in a fiduciary capacity for the benefit of another person.
Imposed where it is unconscionable for legal owner of land to deny interest of another person.
Designed to prevent unjust enrichment and ensure the person in possession of property does
NOT retain it unfairly.
What distinguishes co-owners from sole owners? - Answer The fact that no co-owner is
entitled to exclusive possession. All owners are entitled to possession. This is referred to as:
'unity of possession'
What are the two types of co-owners? - Answer Joint Tenancy
Tenants in Common
Does a joint tenant enjoy the right of survivorship? - Answer Yes - this applies
What must co-owners hold in order for a Joint Tenancy to exist? - Answer Four unities
What is the one thing joint tenants and TinC have in common and both require? - Answer
Unity of possession: each co-owner is as much entitled to possession of any part of the land as
the others. Cannot be excluded. For TinC, they each have a distinct but undivided share in land.
Questions with Correct Answers.
what is co-ownership/concurrent ownership? - Answer Two or more people together own
the same estate in the same piece of land at the same time
What governs the law of co-ownership? - Answer Trusts of Land and Appointment of
Trustees Act 1996
When a land is jointly owned, and a trust of land is imposed, how is this separated? - Answer
Into:
- Legal title
- Equitable title
Who is the legal title held by? - Answer Trustees
Who is the equitable title held by? - Answer Beneficiaries
What is involved in the title of a trustee? - Answer - Registered owner(s) at Land Reg
- Carries powers and duties of management which involve:
- signing documents
- execute mortgage and transfer deeds
Does a trustee enjoy rights of enjoyment over land? - Answer NO
What is involved in the title of a beneficiary? - Answer - BENEFIT from the trust
- Names are kept private and arrangements relating to the equitable title do not appear on the
reg
- Regarded in equity as the 'equitable owner' and have a proprietary right in the land subject to
the trust.
- Interest only takes effect in equity
What are the two different kinds of trusts that can arise? - Answer Express trust
Implied trust
, What formalities are required for the creation of an express trust? - Answer EVIDENCED in
writing, and signed by declarants
What is an implied trust? - Answer Created impliedly, arises under certain circumstances
What are the different types of implied trust? - Answer - Resulting trust
- Constructive trust
What is a resulting trust? - Answer Its a trust that 'results' from the circumstances/actions of
the parties involved rather than created from formal agreement.
one person holds legal title to property, but is considered to hold it for the benefit of another
person.
Imposed where failed express trust.
What is a constructive trust? - Answer Where someone holds legal title to property BUT
holds it in a fiduciary capacity for the benefit of another person.
Imposed where it is unconscionable for legal owner of land to deny interest of another person.
Designed to prevent unjust enrichment and ensure the person in possession of property does
NOT retain it unfairly.
What distinguishes co-owners from sole owners? - Answer The fact that no co-owner is
entitled to exclusive possession. All owners are entitled to possession. This is referred to as:
'unity of possession'
What are the two types of co-owners? - Answer Joint Tenancy
Tenants in Common
Does a joint tenant enjoy the right of survivorship? - Answer Yes - this applies
What must co-owners hold in order for a Joint Tenancy to exist? - Answer Four unities
What is the one thing joint tenants and TinC have in common and both require? - Answer
Unity of possession: each co-owner is as much entitled to possession of any part of the land as
the others. Cannot be excluded. For TinC, they each have a distinct but undivided share in land.
