CPE AND LAW ASSIGNMENT

CPE and Law assignment

Legal Law Assignment

Introduction

This assignment seeks to demonstrate an understanding of trusts of land, co-ownership, implied trusts and proprietary estoppels, and the concepts and principles underpinning fiduciary relationships in lieu of the evaluation and analysis of case scenario in the same context. This assignment will analyze problems and identify effective solutions by deploying primary and secondary legal sources and related sources. It defines the act of co-ownership and explains that; it is the legal concept through which the property shall be jointly varies people, applying the same rules to the effect of property rights (Ferguson, 2001, pp. 114). The issue rose by such scenario and its solution will be described.

What is Co-ownership?

Co-ownership's collective property is an abnormal form of ownership in which two or more people put on the same property the right of ownership. But each of them do not own the property (which if they own are of their share or ideal share), in other words the co-owners own everything or nothing. The co-owners have no control over certain parts of the thing, but a right of ownership of each and every one of the parts of the thing in a certain proportion. You can sell your share to someone else, and this does not affect the other owners. Furthermore, deceased, therefore, you can leave your percentage of ownership to your heirs, who will inherit when pass away. If you have a will, then the beneficiaries who have legal right to your property will be in possession as joint tenants, having no rights of survivorship, so the other owners do not automatically inherit from all (Heller, 1998, pp. 621-688).

Characteristics of co-ownership

Plurality of subjects

There is a single good that falls several joint owners.

None of the co-owners have a concrete adjudicated or materialized.

It falls or material goods.

Co-ownership is not perpetual therefore be extinguished (when the investors decide to split and distribute the common good).

Legal Nature of Ownership

To establish a legal form of co-ownership, there are three approaches:

It is said that each of the investors owns an undivided share, abstract and ideal, a claim that is criticized on the ground that the basis of the property is, that this must fall on one thing certain and determined, so there may be holding certain class luck.

Others point out that a certain class ownership is legal person born in a special way when a number of owners on one thing in common and the effect these co-owners should limit their rights to fulfil specific purposes characteristic of ownership. Trend is also criticized on the ground that the birth of a collective person is limited to compliance with certain requirements for their formation (Battersby, 1991, pp. 36).

Finally, others argue that ownership is a form of property right that falls on a right whose object is an undivided thing where there is a plurality of subjects, a trend that is more accepted by our legal system.

Principles Governing the Ownership

To benefit from the sale of ...