Western Australian Current Acts Western Australian Current Acts (1) Subject to
subsection (2) a body corporate is 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 by virtue of any instrument
that would, if the body corporate had been an individual, have created a joint
tenancy they are entitled to the property as joint tenants.
(2) The acquisition
and holding of property by a body corporate in joint tenancy is subject to the
like conditions and restrictions as attach to the acquisition and holding of
property by a body corporate in severalty.
(3) Where a body
corporate is a joint tenant of any property, then on its dissolution the
property devolves on the other joint tenant.
(4) For the purposes
of this section and section 227 of the Transfer of Land Act 1893 , the
dissolution of a corporation has the same effect as the death of a joint
proprietor.