Bodies Corporate (Joint Tenancy) Act 1899
Jurisdiction | UK Non-devolved |
Citation | 1899 c. 20 |
Bodies Corporate (Joint Tenancy) Act, 1899.
(62 & 63 Vict.) CHAPTER 20.
An Act for enabling Bodies Corporate to hold Property in Joint Tenancy.
[9th August 1899]
Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:
1 Power for corporations to hold property as joint tenants.
(1)1.—(1.) A body corporate shall be capable of acquiring and holding any real or personal property in joint tenancy in the same manner as if it were an individual; and where a body corporate and an individual, or two or more bodies corporate, become entitled to any such property tinder circumstances or by virtue of any instrument which would, if the body corporate had been an individual, have created a joint tenancy, they shall be entitled to the property as joint tenants.
Provided that the acquisition and holding of property by a body corporate in joint tenancy shall be subject to the like conditions and restrictions as attach to the acquisition and holding of property by a body corporate in severalty.
(2) (2.) Where a body corporate is joint tenant of any property, then on its dissolution the property shall devolve on the other joint tenant.
2 Short title.
2. This Act may be cited as theBodies Corporate (Joint Tenancy) Act, 1899.
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