Unity of title all the co owners derive their title

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Unformatted text preview: ssession This means that all the co-owners have the same right to possession of the whole of the property, although they may make their own agreement regarding who exclusively occupies what parts. Unity of title All the co-owners derive their title from the same source. In the case of land, one set of deeds or a certificate of title provides the evidence of title for all of them. ✘ Unity of interest 858 PART 6 All the co-owners hold the same interest or rights in the property. Unity of time BUSINESS ORGANISATIONS AND THE LAW All the co-owners became co-owners at the same time. It can be seen that the co-owners are unified or as one. Survivorship Survivorship means that if one of the parties dies, the interest of that person is automatically transferred to the surviving joint tenants, regardless of any provision to the contrary that the person may have made in their will. It should be noted that legislation such as the NSW Property (Relationships) Act 1984 permits the court to override the principle of survivorship in situations where the court is of the opinion that the deceased person...
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This document was uploaded on 04/23/2012.

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