What is the effect of lien theory on co-tenancy in jurisdictions that follow it?

In lien theory jurisdictions, a mortgage does not transfer ownership of the property; rather, it creates a lien on the property while leaving the ownership interest with the co-tenants. This signifies that the co-tenancy remains intact despite the existence of a mortgage. The individuals who hold the title to the property (the co-tenants) retain their rights and shares in the property, and the mortgage simply serves as a security interest for the lender.

Therefore, the co-tenants can still exercise their rights to use and enjoy the property, and their shared ownership persists regardless of the mortgage. This is a key distinction in lien theory as it emphasizes that the property is not severed or disrupted by the mortgage, unlike other theories such as title theory, where a mortgage could potentially sever co-tenancy rights.

In summary, the presence of a mortgage under lien theory does not affect the co-tenancy arrangement, allowing the co-tenants to maintain their ownership and rights over the property.