Tenancy in Common and Tenancy by the Entirety
Begin your review of joint or concurrent ownership with the various rights and responsibilities of tenants in common and tenants by the entirety (in jurisdictions where tenancy by the entirety is recognized).
Welcome to our clip on “Types of Concurrent Ownership!”
Virtually all property, including any estate in land that we’ve covered so far, is capable of being owned by more than one person at the same time—this is called “concurrent ownership.” The concurrent owners are called “co-tenants,” a term that is not to be misunderstood to refer solely to tenants under a lease agreement. See 20 Am. Jur. 2d Cotenancy and Joint Ownership § 1. The particular rights and responsibilities that co-tenants...