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Making a written declaration that the jt henceforth

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Making a written declaration that the JT henceforth holds his/her share on trust for a named beneficiary. Still at JT at law though. 5. Requires production of certificate of title UNILATERAL SEVERANCE BY NOTICE? 1. A joint tenant cannot presently sever the joint tenancy by giving a notice to the other joint tenant(s). 2. VLRC recommends that it should be possible to do so by registering a notice of severance, without production of certificate of title. 3. Should this recommendation be enacted? Basically, the situation arises where you want to keep your interest, but don’t have title, so point 3 above CANNOT occur. Thus, VLRC suggests you should be able to register a notice of severance without production of certificate of title, which would be useful in situations of domestic violence, as hubby has title and unlikely to give it up. TASMANIA has enacted this!!! UNILATERAL SEVERANCE BY ENCUMBERANCES 1. Effect of: Mortgage – under GL, bank gets land, so this severs title, as time and title are affected. Under TS, this does NOT occur. See Lyons v Lyons Lease – suspends a JT!!! See Frieze Easement – no effect on the 4 unities, so NO SEVERANCE Profit a prendre – no, for the same reason above. EFFECT OF A JT MORTGAGING HIS/HER SHARE: LYONS V LYONS 1. Mr and Mrs L were jointly reg’d as proprietors of a property 2. Mr L mortgaged his share 3. Did this sever the joint tenancy? NO!!! 14
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15 DOES A MORTGAGE BY ONE JOINT TENANT SEVER?: LYONS V LYONS 1. McInerney J: a legal mortgage at general law severs because the legal fee simple is transferred to the mortgagee, breaking the unities of time and title 2. But a Torrens mortgage operates as a charge, not a transfer Sec 74(2) TLA provides that a mortgage ‘shall when registered have effect as a security and be an interest in land, but shall not operate as a transfer of the land thereby mortgaged 3. So a Torrens mortgage by one JT does not sever THE EFFECT OF A MORTGAGE BY ONE JOINT TENANT: LYONS V LYONS 1. Mortgage only encumbers (ie,burdens) the interest of the mortgaging co-owner. When he dies, his interest disappears. 2. Surviving JT takes free of the mortgage. 3. Mrs L was entitled to call on the mortgagee to discharge the mortgage 4. Mortgagee lost its security (property interest) but could recover the debt from Mr L’s estate, as mortgage was a K. HOWEVER, there’s nothing left of Mr. L’s estate to recover from. DOES GRANT OF A FIXED TERM LEASE BY ONE JT SEVER? FRIEZE V UNGER 1. J and H Frieze were reg’d as JTs of a property. J occupied under an agreement with the Ungers (held to be a licence) 2. Scholl J: A lease by one JT does not sever, but suspends the joint tenancy for the duration of the lease. WHY? Because if this didn’t happen, two competing interests (the lessees right to exclusive possession, as well as the co-owners uninhibited access to the land) would be left unresolved. 3.
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Making a written declaration that the JT henceforth holds...

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