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t. e. In property law, a concurrent estate or co-tenancy is any of various ways in which property is owned by more than one person at a time. If more than one person owns the same property, they are commonly referred to as co-owners. Legal terminology for co-owners of real estate is either co-tenants or joint tenants, with the latter phrase ...
The four unities. The mnemonic PITT is used for the four unities here: Possession, Interest, Time, & Title . Unity of time. Interest must be acquired by both tenants at the same time. In common law, the "time" requirement could be satisfied only by using a "straw man" to create a joint tenancy. The party creating the joint tenancy would have to ...
Property law. A partition is a term used in the law of real property to describe an act, by a court order or otherwise, to divide up a concurrent estate into separate portions representing the proportionate interests of the owners of property. [1] It is sometimes described as a forced sale.
The United States has nine community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. [ 1] Four other states have adopted optional community property systems. Alaska allows spouses to create community property by entering into a community property agreement or by creating a community ...
An estate in land is, in the law of England and Wales, an interest in real property that is or may become possessory. [ 1][ 2] It is a type of personal property and encompasses land ownership, rental and other arrangements that give people the right to use land. This is distinct from sovereignty over the land, which includes the right to ...
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the value of certain jointly owned property, such as assets passing by operation of law or survivorship, i.e. joint tenants with rights of survivorship or tenants by the entirety, with special rules for assets owned jointly by spouses.; [22] the value of certain "powers of appointment"; [23] the amount of proceeds of certain life insurance ...
There are 102 counties in Illinois. The most populous of these is Cook County, the second-most populous county in the United States and the home of Chicago, while the least populous is Hardin County. The largest by land area is McLean County, while the smallest is Putnam County. Illinois's FIPS state code is 17 and its postal abbreviation is IL.
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