1. TABLE OF CO-OWNERSHIP
Consolidation Activity (2) Co-Ownership – page 103/4 Manual 3

2. Equitable Joint Tenants Equitable Tenants in Common
January – 5 buy jointly. Only 4 adults can be legal owners. They hold on trust for all 5 as joint tenants because of the express declaration – “ as beneficial joint tenants”. [NB Beneficial and equitable have the same meaning]
Legal Estate
Equitable Joint Tenants
Equitable Tenants in Common
A,B,C,D
A,B,C,D,E

3. Equitable Joint Tenants Equitable Tenants in Common
Andy dies: he held both the legal interest and the equitable/beneficial interest as a joint tenant. Survivorship applies and so both elements of his interest pass to the remaining co-owners. This asset would be outside the terms of his will
Legal Estate
Equitable Joint Tenants
Equitable Tenants in Common
A,B,C,D
A,B,C,D,E
B,C,D
B,C,D,E

4. Equitable Joint Tenants Equitable Tenants in Common
In April, Ben mortgaged his share to Carole: There is no affect on the legal joint tenancy. It acts as severance of the equitable/beneficial joint tenancy by alienation and Carole ends up holding Ben’s quarter share as an equitable tenant in common
Legal Estate
Equitable Joint Tenants
Equitable Tenants in Common
A, B, C, D
A, B, C, D ,E
B, C, D
B, C, D, E
C, D, E¾ C¼

5. Equitable Joint Tenants Equitable Tenants in Common
Ben repays the loan – there is no affect on the legal joint tenancy. Ben will gets back the quarter share from Carole but it cannot re-join the equitable/beneficial joint tenancy
Legal Estate
Equitable Joint Tenants
Equitable Tenants in Common
A, B, C, D
A, B, C, D ,E
B, C, D
B, C, D, E
C, D, E ¾ C¼ B¼

6. Equitable Joint Tenants EquitableTenants in Common
June: Diana decided to leave Notices of severance = severance under s36()2 LPA Correct service so effective. Legal joint tenancy unaffected. Diana will hold her quarter share now as an equitable/beneficial tenant in common also
Legal Estate
Equitable Joint Tenants
EquitableTenants in Common
A, B, C, D
A, B, C, D ,E
B, C, D
B, C, D, E
C, D, E ¾ C¼ B¼
C, E ½
B¼, D¼

7. Equitable Joint Tenants Equitable Tenants in Common
Diana is killed. The legal estate vests in the remaining co-owners B and C by survivorship. Diana’s share of the equitable/beneficial estate will pass to Eric under the terms of her will.
Legal Estate
Equitable Joint Tenants
Equitable Tenants in Common
A, B, C, D
A, B, C, D ,E
B, C, D
B, C, D, E
C, D, E ¾ C¼ B¼
C, E ½
B¼, D¼
B, C
B¼, E¼

8. Equitable Joint Tenants EquitableTenants in Common
Carole dies in September. The legal estate vests in the remaining co-owner B by survivorship. She had not severed the equitable/beneficial joint tenancy and so her share passes to Eric by survivorship. Her will is not operative in relation to this property. Eric cannot be an equitable joint tenant alone and so his share converts in to an equitable tenancy in common and the existing quarter share joins with it so Eric holds the largest share in the property.
Legal Estate
Equitable Joint Tenants
EquitableTenants in Common
A, B, C, D
A, B, C, D ,E
B, C, D
B, C, D, E
C, D, E ¾ C¼ B¼
C, E ½
B¼, D¼
B, C
B¼, E¼ B
B¼, E¾