Question

What 4 unities must be present in Joint Tenancy with Right of Survivorship?

Answer 1

Joint Tenancy with Right of Survivorship is a legal arrangement in which multiple individuals own property together, and upon the death of one owner, their share automatically passes to the surviving owners. The four unities that must be present are Unity of Time, Unity of Title, Unity of Interest, and Unity of Possession.

Step-by-step explanation:

Joint Tenancy with Right of Survivorship is a legal arrangement in which multiple individuals own property together, and upon the death of one owner, their share automatically passes to the surviving owners. Four unities must be present in Joint Tenancy with the Right of Survivorship:

1. Unity of Time: All owners must acquire their interests at the same time.
2. Unity of Title: All owners must receive the property by the same document or instrument, such as a will or deed.
3. Unity of Interest: All owners must have equal shares and identical rights to the property.
4. Unity of Possession: All owners must have the right to possess and use the entire property, not just a specific portion.

For example, if Sam, John, and Lisa jointly own a house as joint tenants with the right of survivorship, and Sam passes away, John and Lisa automatically become the sole owners of the house. The four unities ensure that property rights are shared equally among the tenants and that the property interests pass smoothly upon death.