Tenants in common
The following applies to Torrens Title land and Water Access Licences.
Tenants in common hold a share in the whole of the estate or interest, i.e. no tenant is entitled to exclusive possession of any part of the estate, each tenant being entitled to possession of the whole of the estate or interest in common with the other co-tenants. The shares are commonly used as a measure of the amounts of money invested or contributed by the co-tenants in the acquisition of the estate or interest.
- one of several joint tenants can become a tenant in common with the other proprietors, who remain as joint tenants with each other, by transferring to himself or herself alone the whole or a share of the relevant estate or interest. The other tenants do not have to be parties taking in the dealing.
- care must be taken to not confuse the shares held by a tenant in common holder of a Water Access Licence with the water share component held under the licence.
On the death of a tenant in common the estate or interest passes to the devisee, beneficiary or next of kin as determined by the will, letters of administration etc by means of a Transmission Application form.