Joint tenancy ownership is distinguished by what are known as four unities;
- Unity of title;
- Unity of interest;
- Unity of possession;
- In unity of time.
Joint tenants have identical, undivided interests in the jointly owned property.
In a recent case the issue before the court was whether a creditor could seize the interest of the non-debtor joint tenant in order to satisfy the debt of the other joint tenant.
The court held that because a creditor cannot seize the interest of a non-debtor tenant the creditor was unable to enforce the debt against the non-debtor joint tenant.
Written by Barrie Hayes