Joint Ownership
/ˈdʒɔɪnt ˈoʊnərʃɪp/
Definitions
- (n.) A form of concurrent property ownership where two or more persons hold property interests simultaneously with equal rights, often entailing right of survivorship.
The couple held the house under joint ownership, so the survivor inherited it automatically.
- (n.) An ownership arrangement where multiple parties share legal title but may differ in proportion or type of interest, such as tenants in common or joint tenants.
Joint ownership requires clear agreement on each party’s rights and responsibilities to avoid disputes.
Related terms
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Commentary
Joint ownership is frequently distinguished from tenancy in common by the implication of right of survivorship, which should be clearly specified in legal instruments to avoid ambiguity.
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.