Land Law Supervisions 2021-22 LAND LAW SUPERVISION 7 | CO-OWNERSHIP AND TRUSTS OF LAND II This supervision covers: · The severance of equitable joint tenancies · The priority between trust interests and competing interests (especially mortgagees' interests) . The regulation of trusts of land under the Trusts of Land and Appointment of Trustees Act 1996 The material in this supervision draws on material previously covered in supervisions 3 (the LRA 2002's priority rules), 4 (rectification and indemnity), 5 (co-ownership and trusts I), and 6 (mortgages). When preparing for this supervision, it is important that you take the time to understand how the material from these different parts of the course fits together. READING Severance of equitable joint tenancies Textbooks Dixon pp 192-196 Severance with a joint tenancy, no co-owner has a defned share, but each is the owner of the whole and is subject to the right of survivorship. In practical terms, this means that a joint tenant has no individual share in the equitable interest in the land that he or she can sell, give away or leave by will. For some, this may be perfectly acceptable (e.g. married couples) but, for others (e.g. business partners) it means that they or their families are denied the opportunity to liquidate the capital value of the land. In order to meet these difculties, any joint tenant may 'sever' their equitable joint tenancy and thereby turn it into a tenancy in common. Of course, because of the 1925 reforms, it is only possible to sever an equitable joint tenancy (not that of the legal title) because tenancies in common may exist only in equity. That said, there are several methods by which a joint tenant may sever their interest and con-stitute themselves a tenant in common in equity. One is statutory and the others arise under common law, principally as explained in Williams v Hensman (1861).234 After sever-ance has occurred, if there were only two joint tenants, necessarily both are now tenants in common, but if there were three or more joint tenants, the others can remain as joint tenants between themselves. So, if land is held by A, B, C and D as legal and equitable joint tenants, and then C and D carry out an act of severance, legal title remains held by A, B, C and D as joint tenants (it is not severable), but the equitable title now exists as a joint tenancy between A and B (of 50%), with C and D as tenants in common (25% each). Under section 36(2) of the LPA 1925, any equitable joint tenant may give notice in writing to the other joint tenants of his or her intention to sever the joint tenancy. Become a tenant in common. The severance is entirely unilateral and does not require the agreement or consent of the other joint tenants. Indeed, so long as there is evidence that the written notice was sent (e.g. by registered post), it seems that it does not have to