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Concurrent estate received a peer review by Wikipedia editors, which is now archived. It may contain ideas you can use to improve this article. |
Several months ago, I consolidated two groups of articles into comprehensive articles on these relative concepts, then tweaked and expanded from there. It has occurred to me that these might be on the path to being featured articles, and could benefit from peer review. I present them together because the style and organization is prety much the same for both, so I assume they share the same faults. bd2412 T 23:03, 23 December 2005 (UTC)
=Nichalp «Talk»= 11:44, 28 December 2005 (UTC)
I would like to suggest the following modifications to this entry. I would be interested in any feedback prior to actually making these changes. My suggestions are in bold for easy identification.
Co-tenants, irrespective of the type of tenancy, share certain rights to the property, except to the extent they have modified these rights through an agreement among themselves:
Furthermore, each co-tenant can independently encumber their own share in the property by taking out a mortgage on that share (although this may effectively convert a tenancy in common to a joint tenancy, as described below); other co-tenants have no obligation to help pay a mortgage that only runs to another tenant's share of the property, and the mortgagee can only foreclose on that share. Bank loans secured by mortgages on individual shares of co-owned property is one of the most rapidly expanding areas in the mortgage lending industry. Andysirkin 18:53, 9 October 2006 (UTC)
Where any party to a tenancy in common wishes to destroy the joint interest, he or she can do so through a partition of the property - a division of the land into distinctly owned plots if such division is legally permitted based upon zoning and other local land use restrictions or, where such division is not permitted, a forced sale of the property followed by a division of proceeds.
If the parties are unable to agree to a partition, any or all of them may seek the ruling of a court to determine how the land should be divided up. Where subdivision is permitted by local land use law, the court may choose to either physically divide it between the joint owners (partition in kind), leaving each with ownership of a portion of the property representing their share, or order a partition by sale in which the property is sold and the proceeds are distributed to the owners. Where local law does not permit physical division, the court must order a partition by sale.
Each co-owner is entitled to partition as a matter of right, meaning that the court will order a partition at the request of any of the co-owners. The only exception to this general rule is where the co-owners have agreed, either expressly or impliedly, to wave the right of partition. The right may be waived either permanently, for a specific period of time, or under certain conditions. Andysirkin 18:53, 9 October 2006 (UTC)
I would also like to suggest the addition of the following or a similar paragraph, perhaps in the opening area of the entry.
Regardless of the legal form of co-ownership, all co-owners consider developing a written agreement describing the terms of their co-ownership. Although each jurisdiction has some statutes and case law defining certain rules applicable to the various co-ownership forms, the scope of these rules is very limited and they are often difficult to apply to real life disputes. This makes dispute resolution difficult, time consuming and expensive in instances where no written agreement exists. Some of the issues that should be covered in a real estate co-ownership agreement are: (i) How are the income and expenses of ownership divided among the co-owners; (ii) How and when is each co-owner entitled to use the property him or herself; (iii) How will decisions related to the property be made and how will the property be managed; (iv) What restrictions (if any) apply to a co-owner’s ability to sell or borrow against his or her share, or to allow a spouse, child or other relative to become an additional co-owner; and (v) What restrictions (if any) apply to a co-owners rights to force a partition or sale of the entire property. Andysirkin 18:53, 9 October 2006 (UTC)
No, a concurrent estate or co-tenancy does not describe anything. How about:
This gets the point across without muddling potentially important distinctions between two senses of concept – namely the conventional entity itself and the idea of it – and the use of the idea to describe such estates. — Tamfang ( talk) 09:37, 12 August 2014 (UTC)
This article is rated Start-class on Wikipedia's
content assessment scale. It is of interest to the following WikiProjects: | |||||||||||||||||||||
|
Concurrent estate received a peer review by Wikipedia editors, which is now archived. It may contain ideas you can use to improve this article. |
Several months ago, I consolidated two groups of articles into comprehensive articles on these relative concepts, then tweaked and expanded from there. It has occurred to me that these might be on the path to being featured articles, and could benefit from peer review. I present them together because the style and organization is prety much the same for both, so I assume they share the same faults. bd2412 T 23:03, 23 December 2005 (UTC)
=Nichalp «Talk»= 11:44, 28 December 2005 (UTC)
I would like to suggest the following modifications to this entry. I would be interested in any feedback prior to actually making these changes. My suggestions are in bold for easy identification.
Co-tenants, irrespective of the type of tenancy, share certain rights to the property, except to the extent they have modified these rights through an agreement among themselves:
Furthermore, each co-tenant can independently encumber their own share in the property by taking out a mortgage on that share (although this may effectively convert a tenancy in common to a joint tenancy, as described below); other co-tenants have no obligation to help pay a mortgage that only runs to another tenant's share of the property, and the mortgagee can only foreclose on that share. Bank loans secured by mortgages on individual shares of co-owned property is one of the most rapidly expanding areas in the mortgage lending industry. Andysirkin 18:53, 9 October 2006 (UTC)
Where any party to a tenancy in common wishes to destroy the joint interest, he or she can do so through a partition of the property - a division of the land into distinctly owned plots if such division is legally permitted based upon zoning and other local land use restrictions or, where such division is not permitted, a forced sale of the property followed by a division of proceeds.
If the parties are unable to agree to a partition, any or all of them may seek the ruling of a court to determine how the land should be divided up. Where subdivision is permitted by local land use law, the court may choose to either physically divide it between the joint owners (partition in kind), leaving each with ownership of a portion of the property representing their share, or order a partition by sale in which the property is sold and the proceeds are distributed to the owners. Where local law does not permit physical division, the court must order a partition by sale.
Each co-owner is entitled to partition as a matter of right, meaning that the court will order a partition at the request of any of the co-owners. The only exception to this general rule is where the co-owners have agreed, either expressly or impliedly, to wave the right of partition. The right may be waived either permanently, for a specific period of time, or under certain conditions. Andysirkin 18:53, 9 October 2006 (UTC)
I would also like to suggest the addition of the following or a similar paragraph, perhaps in the opening area of the entry.
Regardless of the legal form of co-ownership, all co-owners consider developing a written agreement describing the terms of their co-ownership. Although each jurisdiction has some statutes and case law defining certain rules applicable to the various co-ownership forms, the scope of these rules is very limited and they are often difficult to apply to real life disputes. This makes dispute resolution difficult, time consuming and expensive in instances where no written agreement exists. Some of the issues that should be covered in a real estate co-ownership agreement are: (i) How are the income and expenses of ownership divided among the co-owners; (ii) How and when is each co-owner entitled to use the property him or herself; (iii) How will decisions related to the property be made and how will the property be managed; (iv) What restrictions (if any) apply to a co-owner’s ability to sell or borrow against his or her share, or to allow a spouse, child or other relative to become an additional co-owner; and (v) What restrictions (if any) apply to a co-owners rights to force a partition or sale of the entire property. Andysirkin 18:53, 9 October 2006 (UTC)
No, a concurrent estate or co-tenancy does not describe anything. How about:
This gets the point across without muddling potentially important distinctions between two senses of concept – namely the conventional entity itself and the idea of it – and the use of the idea to describe such estates. — Tamfang ( talk) 09:37, 12 August 2014 (UTC)