Bodies Corporate (Joint Tenancy) Act (Cap. 147)

BODIES CORPORATE (JOINT TENANCY) [CH.147 – 1 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– [Original Service 2001] STATUTE LAW OF THE BAHAMAS BODIES CORPORATE (JOINT TENANCY) CHAPTER 147 BODIES CORPORATE (JOINT TENANCY) ARRANGEMENT OF SECTIONS SECTION 1. Short title. 2. Power for corporations to hold property as joint tenants. BODIES CORPORATE (JOINT TENANCY) [CH.147 – 3 ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– [Original Service 2001] STATUTE LAW OF THE BAHAMAS CHAPTER 147 BODIES CORPORATE (JOINT TENANCY) An Act for enabling bodies corporate to hold property in joint tenancy. [Commencement 8th June, 1908] 1. This Act may be cited as the Bodies Corporate (Joint Tenancy) Act. 2. (1) A body corporate shall be capable of acquiring and holding any real or personal property in joint tenancy in the same manner as if it were an individual; and where a body corporate and an individual, or two or more bodies corporate, become entitled to any such property under circumstances or by virtue 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: 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. 23 of 1908 Short title. Power for corporations to hold property as joint tenants.