Concurrent Ownership

Definition: Ownership of the same property by two or more persons at the same time.

Example

Two siblings hold a property as tenants in common, each with an undivided ownership interest.

Keep the distinction clear

The form of ownership determines survivorship and other rights. Co-ownership alone does not establish joint tenancy or ownership by the entirety.

Related terms

Tenant in Common · Joint Tenancy · Tenancy by the Entireties

Keep studying

Joint Tenancy, Tenancy in Common, Entireties, and Severalty

References: Florida Statutes 689.15: survivorship and co-ownership · California DRE: traditional joint-tenancy unities

Pronunciation (US): kun-KUR-unt OH-ner-ship (capitals show stress)

Pronunciation reference: Merriam-Webster