This is an extract of our Interests document, which we sell as part of our Real Property Outlines collection written by the top tier of U.C. Berkeley School Of Law (Boalt Hall) students.
The following is a more accessble plain text extract of the PDF sample above, taken from our Real Property Outlines. Due to the challenges of extracting text from PDFs, it will have odd formatting:
Type of Interest (Stick in the Bundle) Concurrent interests
1. Tenancy in Common (default type, "to A & B", no survivorship, terminates whenever either tenant requests - in form of $ or IO)
Pros = economies of scale, maximize production, division of labor, cost sharing, pooling resources, commons aren't always tragic especially in small groups
Delfino v Valencos(tenancy in common)...partition in kind is preferred (when land allows for it and when interests of owners are better reflected). Showed complications when contingent interests. Court favored 'justice' in that Valencos, who made a home and business of the property for many years, were able to keep their land. End result exposed court's failure to promote absolute justice.
Distributive justice (in determining how land is partitioned or sold)...but see black farmers
Swartzburgh v Sampson (joint tenancy): each joint tenant can convey/mortgage/whatever their share without permission from the other, then the other party has a joint tenancy with the one who bought the interests. Joint tenants have interest in the ENTIRE tenancy, not 50%.
1. The act of one joint tenant without express or implied authority from or the consent of his cotenant cannot bind or prejudicially affect the rights of the
Improvement rules =
encourage investing AND alienability (but not necessarily investing alone)
Cons = tragedy of the commons, incompatible uses/goals, unfair if contributions are unequal but benefits are equal, tragedy of anticommons (b/c no one person has permission to use), one person can ask for partition even if 9 others don't want it
2. Joint Tenancy (must include all 4 unities, clear intent must be expressed "To A & B as joint tenants), survivorship, terminates when either tenant destroys a unity (becomes
Problem examples in Oct 24 powerpoints Pros - allows maximum use of land (or copyrights), no permission requirement (can't get locked up in tragedy of commons), improvements that lead to higher sales value = person who put in $ for improvements gets more $
Buy the full version of these notes or essay plans and more in our Real Property Outlines.