Characteristics of joint ownership

(1) Where any land, lease or charge is owned jointly by two or more persons, no such person shall be entitled to any separate share in the legal estate in the land, and on the death of any such person, his interest shall vest in the surviving owner or the surviving owners jointly. (2) Sub-section (1), shall not affect the right of a joint owner to release his interest to the other owners, or the right to sever a joint ownership in a beneficial interest whether or not the legal estate is vested in the joint owners, Provided that where a legal estate (not being settled land) is vested in joint owners beneficially, and any owner desires to sever the beneficial interest, he shall give to the other owners a notice in writing of such desire and do such other acts or things as would, in the case of personal estate, have been effectual to sever the beneficial interest, and thereupon under the trust for sale affecting the land, the net proceeds of sale, and the net rents and profits until sale, shall be held upon the trusts which would have been requisite for giving effect to the beneficial interests if there had been an actual severance. (3) Any land, lease or charge owned jointly by two or more persons may not be disposed of except by all the joint owners acting together. (4) For the avoidance of doubt, it is hereby declared that– (a) the sole proprietor of any land, lease or charge may transfer it to himself and to another person jointly; and 68 (b) a joint owner of any land, lease or charge may transfer his interest therein to all the other owners.