22:35
damn im so hungry all i had today was a curry tonkatsu and buldak
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Simple English definitions for legal terms
title unity
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A quick definition of title unity:
Title unity refers to the requirement that all people who own something together (like a house or land) must have gotten their ownership in the same way. This is important when it comes to joint tenancy, which is a way of owning property with other people. Joint tenancy requires four things to be the same for all owners: their ownership interest, their right to possess the property, the time when they became owners, and the way they got their ownership (which is the title).
A more thorough explanation:
Definition: Title unity refers to the requirement that all joint tenants must acquire their interests under the same instrument.
For example, if three people inherit a property from their parents and they all receive equal shares, they would have title unity because they all acquired their interests under the same instrument (the parents' will or trust).
This concept is important in joint tenancy, which is a type of ownership where two or more people own a property together. In order to create a joint tenancy, the four unities must be present: interest, possession, time, and title. Title unity is just one of these four unities.
Understanding title unity is important because if one joint tenant acquires their interest in the property separately from the others, it can break the joint tenancy and create a tenancy in common instead.
title transaction | titulo lucrativo, qui titulus est post contractum debitum