Simultaneous Ownership Tenancy in Common Joint Tenancy Tenancy by the Entireties Community Property

Unities Time - all took at the same time. Title - all took by the same instrument. Interest - each took an identical share Possession - each had an undivided and equal right to possess the whole. Person - treated as one person (married).

Tenancy in Common X to Y & Z as tenants in common –unities –estate of inheritance –creditors –sale / gift X & Y (T / C), Y to Z, X & Z (T / C)

Joint Tenants w/Right of Survivorship X to Y & Z (JTROS) unities not an estate of inheritance partition / severance creditors divorce bank accounts

Mom’s Estate Acct’s & CDs (JTROS/X)$250,000 Condominium 150,000 Taxes and expenses (31,000) Will says taxes and expenses from residuary then equal shares Y $ 0 39,667 $ 39,667 v. $123,000 X $250,000 39,666 $289,666 v. $123,000 Z $ 0 39,667 $ 39,667 v. $123,000

Tenancy by the Entireties X to H & W as tenants by the entireties –unities –presumption v. practice –creditors –partition / severance –divorce

Community Property Spanish civil law v. English common law efforts of either spouse belong to the community separate property increase in value of separate property mobility

Marital Property Definition –Excluded by valid agreement Equitable division Alimony Child support

Pre-nuptial Agreements Necessity of counsel Full and fair disclosure Reasonable provision for dependent spouse Modification of Divorce Code Modification of PEF Code –elective share; dower and curtesy Sunset