MLL325 Study Guide - Final Guide: Concurrent Estate, Socalled, Encumbrance

• School: Deakin University
• Department: Business and Law
• Course: MLL325
• Professor: Samantha Hepburn

Document Summary

Co-ownership exists where two or more persons own/hold the same estate or interest in land. Co-ownership is where two or more persons share title to an estate/interest in land. Each co-owner acquires an individual right in rem in the land which is enforceable against all persons, except other co-owners. Co-ownership is recognised by common law, equity and torrens system. Any estate/interest that carries the right to possess can be co-owned. Co-ownership should be distinguished from fragmentation of estates under the doctrine of estates: Do(cid:272)t(cid:396)i(cid:374)e of estates = (cid:862)successive interests / vertical division of interests in land. Co-o(cid:449)(cid:374)e(cid:396)ship = (cid:862)(cid:272)o(cid:374)(cid:272)u(cid:396)(cid:396)e(cid:374)t i(cid:374)te(cid:396)ests(cid:863)/ ho(cid:396)izo(cid:374)tal di(cid:448)isio(cid:374) of i(cid:374)te(cid:396)ests i(cid:374) la(cid:374)d. Relationship between a trustee (legal title and possession) and beneficiary (equitable title) in a trust is not co-ownership due to absence of equal possessory rights (jurisdictional fragmentation). Title in trust property are held in different jurisdictional capacities. Fundamental feature of co-ownership is the joint right of each co-owner to possess the land.