Definitions for "Co-ownership"
Related Terms:
Joint ownership, Joint property, Tenants in common, Concurrent ownership, Tenancy in common, Joint tenancy, Severalty ownership, Tenants-in-common, Joint tenants, Co-tenancy, Tenant in common, Joint tenancy with right of survivorship, Undivided interest, Tenancy, Sole ownership, Tenancy-in-common, Tenancy in severalty, Fee simple, Joint tenants with rights of survivorship, Severalty, Fee simple estate, Fee simple ownership, Tenure in land, Right of survivorship, Tenure, Tenancy by the entirety, Tenancy by entirety, Freehold, Freeholder, Tenancy by the entireties, Cotenancy, Vesting, Seisin, Survivorship, Tenants by the entirety, Seizin, Life estate, Unity of possession, Fee simple absolute, Reversion, Fee, Owner, Escheat, Bundle of rights, Notorious possession, Joint tenants with right of survivorship, Grantor, Tenant at sufferance, Tenancy at will, Tenant at will
Shared ownership, a method of purchasing property in partnership with a housing association, where the borrower purchases part of the property and rents the rest from the housing association. The minimum purchase amount is 25% of the property value, and the rest may be bought in blocks of 25%. This arrangement is ideal for those whose personal circumstances prevent them from being 100% homeowners.
is a relationship between two or more parties who jointly own interest(s) in the same property.
Label given to ownership of property by more that one person.
The state of two or more people sharing ownership of a property. Can be an important issue in matters such as personal liability or inheritance.
Ownership in property by two or more persons.
Two or more people simultaneously share title to one piece of property.
Two or more persons hold the title to the property. a) Community Property - Property that is owned by a husband and wife during their marriage. In California, any real property acquired during the marriage is presumed to be community property absent evidence to the contrary. b) Joint Tenancy - Property that is owned by two or more persons in equal share, who acquired their interests at the same time. Property held in Joint Tenancy is subject to the right of survivorship in the surviving joint tenant's). When a joint tenant dies, title to the property is automatically conveyed by operation of law to the surviving joint tenant's). c) Tenancy in Common - Property that is owned by two or more individuals in undivided fractional interests. Each Tenant in Common owns a share of the property. The shares need not be equal, can be acquired or transferred at different times and can be disposed of at the death of tenant in common through a will, trust or by operation of law to heirs at law.
If more than one person buys a property then there has to be an agreement as to the percentage of ownership and what happens when either party dies unless the survivor of the co-owners is to take the property, the agreement is called a Declaration of Trust.
Ownership of property by more than one person.
Ownership of real or personal property by two or more people together.
The undivided ownership of property by two or more persons or legal entities. Also see “joint tenancy,” “Tenancy in common, and “Tenancy by the entirety.
The co-ownership occurs when the ownership of the whole property is divided (not necessarily on a pro-rated basis) between two or more persons. Usually there is a written agreement between the co-owners in which the rights of each co-owner is described. Each co-owner may sell his/her right of ownership or dispose of it as he/she wishes.
Title ownership held by two or more persons.
Two or more people sharing ownership of a property. Forms of co-ownership include community property, joint tenancy, and tenancy in common.
A form of tenure in which all residents jointly owned their homes and estates, having some of the advantages of home ownership and some of renting. Most common between 1970 and 1982.