Bodies Corporate (Joint Tenancy) Act

BODIES CORPORATE (JOINT TENANCY) 1 THE BODIES CORPORATE (JOINT TENANCY) ACT IAW 23 of 1955. [81h September, 1955.1 1. This Act may be cited as the Bodies Corporate (Joint shorttitle. Tenancy) Act. 2.41) A body corporate shall be capable of acquiring powerof in the same manner as if it were an individual; and where P " P ~ ~ Y a body corporate and an individual, or two or more bodies tenan? corporate, become entitled to any such property under cir cumstances or by virtue of any instrument which would, if the body corporate had been an individual, have c r e a w a joint tenancy, they shall be entitled to the property as joint tenants : Provided that 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 joint tenant of any property, then on its dissolution the property shall devolve on the other joint tenant. and holding any real or personal property in joint tenancy corporstions as joint m e indusion of this page is authorizsd by L.N. 480/1973]