Co-Ownership
/ˌkoʊˈoʊnərʃɪp/
Definitions
- (n.) A legal arrangement in which two or more persons hold title to property jointly, with rights and obligations to each other and the property.
The co-ownership of the estate was divided equally among the siblings.
- (n.) The joint ownership of property whereby each owner has an undivided interest that may be alienated independently.
Under co-ownership, each tenant may sell their share without consent from the others.
Related terms
See also
Commentary
Co-ownership involves multiple owners holding property together, differing from sole ownership; distinctions between types (e.g., joint tenancy vs tenancy in common) affect rights on transfer and survivorship.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.