Queensland Consolidated Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]
PROPERTY LAW ACT 1974 - SECT 34
Power for corporations to hold property as joint tenants
34 Power for corporations to hold property as joint tenants
(1) A body corporate shall be capable of acquiring and holding any property in
joint tenancy in the same manner as if it were an individual, and where a body
corporate and an individual or 2 or more bodies corporate become entitled to
any property under circumstances or because 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.
(1A) However, 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)
Where a body corporate is a joint tenant of any property, then on its
dissolution the property shall devolve on the other joint tenant.
(3) This
section shall apply in all cases of the acquisition or holding of property
after the commencement of this Act.
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback