Cotenancy and Joint Ownership
Transfer by owner to himself and another; transfer of undivided interest
There is a difference of opinion as to whether a joint tenancy can be created by a grant by the owner of property to himself and another. One view is that unity of title and unity of time are lacking in the estate created in the two grantees and therefore a tenancy in common results.[FN84] Other decisions, however, permit joint tenancies to be created by conveyance from the owner of property to himself and another, in which the character of the intended tenancy is clearly indicated.[FN85] Moreover, statutes in a number of states authorize the creation of a joint tenancy in this manner.[FN86]
It is generally recognized that a joint tenancy in corporate stock may be created by the surrender of the certificate and its reissuance to the holder and another as joint tenants.[FN87] So generally, a joint tenancy may be created by an owner's conveyance to an intermediary who in turn conveys to the original grantor and another as joint tenants.[FN88]
Some courts have held that the owner of land can create a joint tenancy in himself and another by an instrument purportedly conveying to such other an undivided one-half interest in the premises and sufficiently expressing the appropriate intent.[FN89]
[FN84] Dolley v Powers, 404 Ill 510, 89 NE2d 412; Strout v Burgess, 144 Me 263, 68 A2d 241, 12 ALR2d 939; Price v National Union Fire Ins. Co., 294 Mich 289, 293 NW 652; Stone v Culver, 286 Mich 263, 282 NW 142, 119 ALR 512; Zander v Holly, 1 Wis 2d 300, 84 NW2d 87.
The right of survivorship intended to be created by a deed from the owner of land to himself and another as joint tenants, which deed, in the absence of statute, fails to create a joint tenancy, may properly attach to the resulting tenancy in common, and such survivorship is then indestructible except by the voluntary action of all the tenants in common. Anson v Murphy, 149 Neb 716, 32 NW2d 271.
[FN85] Greenwood v Commissioner (CA9) 134 F2d 915, 43-1 USTC 10036, 30 AFTR 1342 (applying Arizona law); Kleemann v Sheridan, 75 Ariz 311, 256 P2d 553; O'Neill v O'Malley, 75 Cal App 2d 821, 171 P2d 907 (creation of joint tenancy in equitable right of vendee under contract for purchase of real property); Florida Nat'l Bank v Gann (Fla App D2) 101 So 2d 579; Switzer v Pratt, 237 Iowa 788, 23 NW2d 837; Haynes v Barker (Ky) 239 SW2d 996; Creek v Union Nat'l Bank (Mo) 266 SW2d 737; Therrien v Therrien, 94 NH 66, 46 A2d 538, 166 ALR 1023; Gazalski v Goss (In re Estate of Ingram) (Okla) 874 P2d 1282.
Joint tenancy in corporate stock may be established when the owner executes an assignment of the certificate to himself and another in joint tenancy with right of survivorship, even though new certificates are not issued. Petri v Rhein (CA7 Ill) 257 F2d 268 (Illinois law).
[FN86] Riddle v Harmon (1st Dist) 102 Cal App 3d 524, 162 Cal Rptr 530, 7 ALR4th 1261; Edge v Barrow, 316 Mass 104, 55 NE2d 5; Crowell v Milligan, 157 Neb 127, 59 NW2d 346 (ovrld in part on other grounds by Rose v Hooper, 175 Neb 645, 122 NW2d 753) and (ovrld in part on other grounds by In re Estate of Ogier, 175 Neb 883, 125 NW2d 68); Kelley v Kelley, 51 RI 173, 153 A 314, 74 ALR 135.
44 A.L.R. 2d 595 § 4.
[FN87] Hood v Commonwealth Trust & Sav. Bank, 376 Ill 413, 34 NE2d 414; Lytle v Northern Trust Co. (1st Dist) 39 Ill App 2d 372, 188 NE2d 743.
[FN88] Hill v Donnelly, 56 Cal App 2d 387, 132 P2d 867.
[FN89] Germaine v Delaine, 294 Ala 443, 318 So 2d 681; Lipps v Crowe, 28 NJ Super 131, 100 A2d 361.
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