Thus, the IRS and the courts may consider a cotenancy
to be a partnership for tax purposes if the business activity of the cotenancy
resembles a partnership.
Moreover, those unusual cases that require more time can often be identified from analysis of the cotenancy
circumstances and cotenant profiles.
Our recommendations had their genesis in our 1985 ACC study of cotenancy
, but the basic idea--a cotenacy property right system--was substantially extended and tailored to fit the special physical properties of electric power flows in interconnected alternating current (AC) networks.
Before deciding the case, the court acknowledged that a proper interpretation of CPA section 41-a had not yet been reached and that it would not attempt to give it one.(112) Sidestepping an interpretation of section 41-a, the court determined, based on common law ouster, that the possessing cotenant's actions were so contrary to the cotenancy
that they warranted a determination of adverse possession.(113) Although the Dickson court did not interpret section 41-a, it still went farther than the Sea Cove Marina court by ignoring the fifteen-year statutory presumption and applying a presumptive ouster under the common law.
1914) ("As an incident to a cotenancy
is "a tenancy under more than one distinct title, but
Third, even if the [sections] 761(a) election is valid, the election will not necessarily replicate the tax consequences of a situation in which such an election is unnecessary because no tax partnership exists.(30) As a result, taxpayers should independently analyze whether a Code [sections] 761(a) election will produce the particular advantages of a tax cotenancy
that they seek.
In Octagon Gas, Judge Baldock remanded to the bankruptcy court to determine whether a sale of the debtor's assets in a chapter 11 plan was free and clear of a cotenancy
in "proceeds" of natural gas claimed by a buyer of that cotenancy
.(317) This holding was perfectly correct.
minority view on cotenancy
, that development by fewer than all owners of
In either case, a surviving spouse takes sole title if the other dies before dissolution of the cotenancy
.(88) Their divorce settlement calls for a sale of the house and division of the proceeds, but W dies before a court finalizes the divorce.
& Partition, [sections] 17; contra, Simpson v.
The statute actually makes adverse possession easier in cotenancy
cases by eliminating the need for a cotenant to give actual notice of exclusive possession to non-occupying cotenants.(108) Previous law held that "mere possession of the property by one cotenant .