Conveyancing and Lawof Property Act 1886 · 2020 Revised Edition · Part 7 · Married Women, Aliens, Corporations
39. Power for corporations to hold property as joint tenants
Feedback & supportSubject to the provisions of the Residential Property Act 1976, 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 2 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.
property
“property” includes real and personal property and any estate in any property, real or personal, and any debt and any thing in action, and any other right or interest in the nature of property, whether in possession or not;
Where a body corporate is joint tenant of any property, then on its dissolution the property shall devolve on the other joint tenant.