16. Co-Ownership

Abstract

This chapter studies the trust of land, and how this legal structure is used to manage co-ownership of land. It first describes the nature of interests under a trust of land, and the rights and obligations for trustees and beneficiaries which arise as a result of the creation of such a trust. The chapter then details the different forms of concurrent co-ownership which can exist in relation to land, looking at joint tenancies and tenancy in common as well as the process of severance. Since co-ownership cannot exist without a trust, it is useful to have understood trusts generally before examining it as a tool to manage co-ownership situations. Finally, the chapter assesses the regulation of disputes between trustees, beneficiaries, and third parties. Partly these disputes relate to questions of priority, and so it is useful to read this chapter in conjunction with the previous one concerning the general priority rules.