Land Law Case Study Example | Topics and Well Written Essays - 1500 words

Land Law - Case Study Example If it is not registered (as some purchases before that date will not be), the legal owners will be listed on the document called the conveyance, which passes the property from one owner to another" (Joint Ownership of Property. 2008). However, the real value of the property lies in the second type of ownership, i.e. equitable or beneficial ownership as this ownership ensures the right to "the right to live in and use the property, and the right to share in the proceeds of any sale." Also, the equitable owner also can control a legal owner and decide on the sale of the property. As an immediate result of this factor, the buyer of the property will suffer much generally because it is normally difficult for the buyer to realise the existence of an equitable owner form the usual searches of the land or enquiries of the seller. As a result, the buyer will be bound to allow the beneficial owner after the business is over. (Joint Ownership of Property. 2008). It is also necessary that in the case of the legal and the beneficial owners of a property are different there arises a situation called trust, an arrangement formulated by a deed or written agreement. In the present case given for discussion, the two sisters Jennifer and her sister Clarissa conveyed the property as beneficial joint tenants. Thus, it is pertinent to have an idea of how such a property can be held in beneficial joint tenants which is one of the two ways of joint property, the other being the beneficial tenants in common. In the case of beneficial joint tenants, the joint owners are equally entitled to the property by which both share the rights to enjoy the benefits of the property together. Thus, the two sisters enjoy the unregistered country cottage property in Maple Leaf jointly. And, as it is evident, they do not enjoy separate shares but own the whole thing in common to each other and neither Jennifer nor Clarissa could enjoy separate share which each could sell or leave in a will. As it is clear in the case, Jennifer applies for the permission for the sale of her property, but immediately breaths her last. At her death, her application for the sale of propert y cannot succeed as in the case where "one person dies then the survivor becomes the owner of the whole property. This happens automatically without any further formality" (Joint Ownership - the methods). Also, let this be clear that Jennifer's case, at her death, in application for the sale of property cannot succeed as the law entails the person left the absolute ownership of the property. "If there is only one joint tenant left, he or she becomes outright owner of the property. Because no joint owner has a defined share, their interest in the property does not become part of their estate when they die, but simply disappears" (Joint Ownership of Property. 2008). However, we need to consider whether the particular case of Jennifer would succeed at the time of her application for sale of the property. The specifications of the case are that the property was an unregistered one conveyed to the sisters as beneficial joint tenants; the share of Jennifer in the deal was 160,000 of the total 280,000; and the children of Clarissa had Attention Hyperactivity Deficit