Property_I_Acronym_Chart

Property_I_Acronym_Chart - Property Acronym Chart...

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Property Acronym Chart Co-Ownership Tennants in Common   (PPNUTS ) P : Presumption  Equal shares  (unless parties intended  otherwise) P : Presumption  of TIC when  there has been a devisement two  or more unmarried persons  N : No  Survivorship Rights U : Undivided  share in the whole  (per my et per tout) T : Transferable  (Freely) S : Simultaneous  Possession and  Enjoyment of the whole parcel Joint Tenancy  (CUTER  plus  TTIP ) C : Created  expressly by deed or  will U : Undivided  share in the whole T : Transfer  breaks joint tenancy  inter vivos E : Extinguished  interest upon  death of shareholder R : Rights  of Survivorship  between tenants Unities  (TTIP ) T : Time -The interest of each joint  tenant must be acquired or vest  at the same time. T : Title -All joint tenants must  acquire title by the same  instrument or by joint adverse     possession. I : Interest -All must have equal  undivided shares and identical  interests measured by        duration P : Possession -Each must have a  right of possession of the whole Tenancy By The Entirety   (CUTER  plus Marriage ) Terminating Joint Tenancy   Severs ROS and becomes TIC  by transfer (LUSST ) L : Lien  Theory U : Unilaterally   S : Straw  Person or  S : Severs  Right of Survivorship T : Title  Theory Lien Theory: No sever. Title Theory: Sever. Tenancy by the Entirety : Divorce Joint Tenancy Bank Accounts Convenience ; No interest, no  ROS. True Joint Bank Account ; Joint  Use, Survivor ROS. Payable by Death ; Survivor ROS Remedies for Tenancy (POA) P artition:  (DEKS ) D : Divide E : Equity K : Kind S : Sale O uster  (CODRCODR ) CO : Cotenant D : Deprives R : Right  of Possession CO : Cotenant 
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D : Demands R : Rejected
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This note was uploaded on 04/17/2008 for the course LAW ? taught by Professor Harmon during the Fall '08 term at Touro NY.

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Property_I_Acronym_Chart - Property Acronym Chart...

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