Final answer:
The unities of time, title, interest, possession, and person would most likely be created when Mr. and Mrs. Jones buy real estate, as they fulfill the unity of person along with the others under traditional principles of property law applicable to a married couple.
Step-by-step explanation:
The unities of time, title, interest, possession, and person are ancient legal concepts that relate to the ownership of property. In real estate law, these unities are required to create certain forms of joint ownership such as joint tenancy. The unity of time requires that the interests of the co-owners vested at the same time; the unity of title means the interests were acquired by the same transaction; the unity of interest holds that co-owners have equal interest in the property; the unity of possession indicates that each owner has an equal right to possess the whole property; and the unity of person (if applicable) refers to the co-owners being legally regarded as one person, such as in the case of married couples.
Situations where the unities could be created are:
- John, Peggy and George buy a cottage on the lake. This could possibly exhibit the unities (assuming equal interest and only if the law that governs that property allows for such an arrangement).
- Mr. and Mrs. Jones buy real estate. As a married couple, they would exhibit the unities of time, title, interest, possession, and they would be considered one person (unity of person) under traditional common law principles of coverture.
- A corporation purchases investment property. While a corporation can have the unities of time, title, interest, and possession, it can't demonstrate unity of person because it is an entity, not an individual or a married couple.
- Carrie buys her first house. There can't be unities in this case because there is only one person involved.
Thus, the answer to the question is that the unities would be created when Mr. and Mrs. Jones buy real estate, as they are most likely to fulfill the requirement of the unity of person, in addition to the other unities, under traditional principles of property law.