Co Ownership Agreement Alberta


    Creditors can arise from litigation, not paying mortgages, harm someone, business debts, etc. Co-ownership can endanger your property by your co-owner. The distinctive feature of the condominium is what makes it welcoming. Common ownership is held collectively and equally. There is a right of reversion in co-ownership. In other words, when one of the co-owners dies, the other co-owners automatically acquire this share of the deceased. As described below, this makes co-ownership attractive in certain situations. It should be constantly recalled that there are also important legal consequences that agree with this factor. These are also described below. If we think about the severance pay law, it is useful to think, even in a Torrens jurisdiction, about separation in law and severance pay in fairness. Thus, it was recognized that if A and B were considered joint tenants, an agreement by B to sell their share in C would result in compensation for breach of the joint lease between A and B, even if a separation legally required an act.

    An equity indemnity would be effective against the whole world, except against Equity`s favorite, the bona foi buyer of the legal estate without notice. This conclusion is based on Walsh v Lonsdale (1882), 21 Ch D 9 (CA) and the thesis that justice sees what should be done. The Supreme Court of Canada`s decision in Semelhago v. Paramadevan, [1996] 2 SCR 415, 1996 CanLII 209 (SCC) challenges this thesis in Canada, but a written statement of confidence by B in favour of C must always separate equity, if not legally, because it is an effective donation from B to C: see Sorensen (Estate) v Sorensen; 1977 CanLII 1648 (AB CA). . . .