Joint ownership of a property Due to a violation of contract, Roy, Andy, and Tim, who are partners in a general partnership, have all been sued separately.
What exactly does joint ownership entail?
- The legal term "joint tenancy" refers to an arrangement that specifies the ownership rights and interests of two or more co-owners of real estate. When two or more persons jointly occupy property, they each have an equal share of rights and obligations.
- A form of ownership shared by two or more people is known as joint tenancy. It differs from other forms of co-ownership in that upon the death of the other joint tenant, the surviving joint tenant immediately becomes the owner of the entire property. "Right of survivorship" is the legal term for this.
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