Trusts of land

Trusts of land

Where two or more people together own real property, they hold it under a trust of land. Where property is held on a trust of land, the legal estate and equitable estate are separate. The legal estate must be held by the co-owners as joint tenants. The beneficial interest in the property can, however, be held by the co-owners either as:

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joint tenants; or
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tenants in common

If the co-owners are joint tenants, each has an indivisible share in the property where each owns the whole, rather than an identifiable share of the property. The right of survivorship applies so that on the death of one joint tenant, the deceased's interest

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