In marriage unequal contributions are not significant

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In marriage unequal contributions are not significant. o If the parties both contribute to the purchase price and they hold at law as JTs equity will follow the law and presume that they are also JTs in equity. This result may also follow where they contribute unequal amount to the purchase price. Normally you would have a TIC in equity. ii. People advance money pursuant to a mortgage together – equity presumes that 2 or more people advance money secured by a mortgage, equity presumes that they hold those mortgage interests as TIC. iii. In the case of business partners the right of survivorship is inappropriate. It will be presumed that a TIC exists. Lake v Craddock – partners invested money together. Undertaken a venture with a view to profit. iv. “Flexible approach” – a TIC is presumed if you hold it for your separate business purposes. Melayen Credit v Jack Sheer Facts: 2 parties were tenants for a 5 year lease. Had both names on it. Decided that they would place partition walls. Agreed to pay the deposit rent in the proportions of 38% and 62%. They were running two separate businesses from the rented premises. Held: At law they are JTs. They are named on the lease and no words of severance. But, the lords rejected the view that the presumption is limited to 3 categories. Where premises are held by 2 persons as JTs at law for their several business purposes, it is improbable that they intend to hold their JTs in equity. The purpose of the lease was clearly to serve separate business interests, space was planned for division, contributed different proportions. Bedejs v Public Trustee Facts: De factos living together for 14 years. Land in his name. He dies and did not leave a will – died in testate. She argued that they had been pooling their incomes and paying expenses and repayments together. Although the contributions were unequal. Held: Nicholson J held that there was a CICT. CI to acquire the land on behalf of himself and his de facto wife equally despite the unequal contributions. (better to argue than Baumgartner Constructive trust). > Did they intend to hold equally as JTs or TICs? 13
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Held that it would be a CICT for JTs. Therefore the wife has survived the husband as the sole owner in equity. Property Co-Ownership Act 2005 New Part 4 in the PLA Applies to disputes over land and goods. Interacts with previous legislation. 1. Jurisdiction – VCAT at first instance. (previously you had to go to the Supreme Court and apply for ‘partition’ which was a long and expensive process.) s234c(1) removes jurisdiction of Supreme Court with some exceptions. 2. Courts will have a preference for sale and division of proceeds only award physical division in appropriate circumstances. 3. new provisions relating to co-ownership disputes modifying the common law (law reform report).
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