Bermuda Consolidated Legislation

BERMUDA
1951 : 91

CORPORATE BODIES (JOINT TENANCY) ACT 1951

ARRANGEMENT OF SECTIONS

1 Corporate body may hold land as joint tenant

2 Retrospective effect

[1 November 1951]

[preamble and words of enactment omitted]

Corporate body may hold land as joint tenant

1 (1) A corporate body 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 corporate body and an individual, or two or more corporate bodies, become entitled to any such property under circumstances or by virtue of any instrument which would, if the corporate body 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 corporate body in joint tenancy shall be subject to the like conditions and restrictions as attach to the acquisition and holding of property by a corporate body in severalty.

(2) When a corporate body is joint tenant of any property, then on its dissolution the property shall devolve on the other joint tenant.

Retrospective effect

2 Where, before 1 November 1951, a corporate body and an individual, or two or more corporate bodies, became entitled to any property under circumstances or by virtue of any instrument which would, if the corporate body had been an individual, have created a joint tenancy, the provisions of this Act shall be deemed to have had effect as from the date of such entitlement.