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In land law, if two or more people hold land in `undivided shares', then each holds an identified share of the value of the estate (50%, 30%, or whatever) but there are no separate rights of possession over the estate. This arrangment is effectively a TenancyInCommon. Of course, tenancy in common has not been recognized as a legal form of co-ownership since the LawOfPropertyAct1925, so what happens if one tries to convey land to joint owners in undivided shares? s.34(2) provides that:
``Where ...land is expressed to be conveyed to any person in undivided shares ... the conveyance shall operate as if the land had been conveyed to the grantees ... as joint tenants in trust for the persons interested in the land.''
In other words, a conveyance of an undivided share creates a legal JointTenancy, and a trust which gives effect to the tenancy in common. See CoOwnershipOfLand for more details.
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