A frank-tenement, also referred to as a freehold, grants the owner full authority over the property and the ability to transfer it to their descendants. In contrast, a leasehold only permits the owner to utilise the property for a specified duration. Previously, individuals attempted to establish a perpetual freehold to ensure the land remained within their family indefinitely, but this was deemed impermissible by the courts.
A free tenement, also known as a freehold or franktenement, refers to both the tenure and the estate. It can be held in fee simple, fee tail, or for the term of life, and represents any real-property interest that is or may become possessory. There are different types of freehold estates, including determinable freehold, movable freehold, and perpetual freehold.
A determinable freehold is an estate that can be terminated if a specific condition is met. For example, a lease may end if the tenant violates a certain rule.
A movable freehold refers to the land that a seashore owner acquires or loses as the water recedes or approaches.
A perpetual freehold is an estate given to a grantee for life and then successively passed down to the grantee’s heirs for life. This type of freehold is used to ensure that the land remains within the family for generations.
These examples illustrate the various types of freehold estates and their characteristics.
A Frank-Tenement is a legal term used to describe a type of joint ownership where two or more individuals own a property together, with each person having an equal share and right to possess and use the property.
Unlike other forms of joint ownership, such as tenancy in common or joint tenancy, a Frank-Tenement requires equal shares and rights for all owners. This means that each owner has an equal say in decisions regarding the property and is entitled to an equal share of any profits or losses.
No, you cannot sell your share of a Frank-Tenement property without the consent of the other owners. Since all owners have equal rights, any sale or transfer of ownership requires the unanimous agreement of all parties involved.
If one owner wishes to sell their share of a Frank-Tenement property, they must first seek the consent of the other owners. If all owners agree, the selling owner can proceed with the sale. However, if any owner does not consent, the sale cannot take place.
Yes, you can mortgage your share of a Frank-Tenement property. However, it is important to note that any mortgage or loan taken against the property will affect the rights and interests of all owners. Therefore, it is crucial to obtain the consent of all owners before proceeding with a mortgage.
If one owner defaults on their mortgage payments, it can have consequences for all owners. The lender may have the right to foreclose on the property, potentially leading to the sale of the entire property to satisfy the debt. It is essential for all owners to be aware of the financial obligations and risks associated with mortgages on a Frank-Tenement property.
No, you cannot make alterations or renovations to a Frank-Tenement property without the consent of the other owners. Since all owners have equal rights, any changes to the property must be agreed upon by all parties involved.
If one owner wishes to use the property for a different purpose than the others, it can lead to conflicts and disputes. In such cases, it is advisable to seek legal advice and attempt to negotiate a mutually acceptable solution. If an agreement cannot be reached, a court may need to intervene to resolve the matter.
No, you cannot be held personally liable for the debts or actions of the other owners in a Frank-Tenement property. Each owner is responsible for their own financial obligations and legal liabilities.
Yes, you can leave your share of a Frank-Tenement property to someone in your will. However, it is important to note that the other owners will still retain their rights and interests in the property. The person inheriting your share will become a co-owner and will need to abide by the rules and regulations governing the Frank-Tenement.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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