36) Where a cotenant
in possession vacates the premises and rents them to a tenant, the rent benefits all cotenants
in proportion to their ownership, and accordingly 50 percent of the rent after expenses must be kept by the cotenant
receiving the rent, while the other cotenant
must receive 50 percent of the rent after expenses.
110) This is "because each such cotenant
has a duty to pay taxes and therefore the principle is applicable that one should not profit by failing to satisfy that duty.
If a cotenant
cannot reach agreement with a fellow owner for any reason, he or she has the legal right to demand partition of the property.
Criticizing the prevalence of forced partition sales, one note argues that judges have "misapplied the statutes and allowed private interests to use the statutory process as a land acquisition tool at the expense of cotenant
Furthermore the chain has a cotenant
renting an adjacent 150,000 square feet and when that tenant's option expires Duane Reade has first right to the space.
3) It is unclear when the adverse possession period begins to run against a cotenant
under section 541.
1994) (holding that when one cotenant
stops paying his share of taxes and mortgage payments, other cotenants
may pay his share and recover from him).
THE ROLE OF SOVEREIGNS AS COTENANT
TRUSTEES OVER SHARED ASSETS
Each such cotenant
thereafter desiring exchange treatment could then assign his or her respective interest in the sales contract to a qualified intermediary and close the transaction as an exchange.
Shortly after Knight Transportation headquarters finished installing its new access control system, the company's cotenant
, Total Warehousing, installed the same system.
there is no societal understanding of superior and inferior," and "[el ach cotenant
Securing Dig Inn was a great opportunity for the landlord, as the restaurant's popularity will help attract a cotenant
for the remaining 1,550 s/f of space on the ground floor," said Singer.