ownership in common
Right of ownership shared by two or more people, where at the death of one owner his or her interest in the property passes to his or her heirs. This is in contrast to joint ownership, where that interest would pass to the remaining owner or owners.
Category: Wills, Trusts & Estates → Wills

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • ownership in common — UK US noun [U] ► PROPERTY COMMON OWNERSHIP(Cf. ↑common ownership) …   Financial and business terms

  • in common — {adv. phr.} Shared together or equally; in use or ownership by all. * /Mr. and Mrs. Smith own the store in common./ * /The four boys grew up together and have a lot in common./ * /The swimming pool is used in common by all the children in the… …   Dictionary of American idioms

  • in common — {adv. phr.} Shared together or equally; in use or ownership by all. * /Mr. and Mrs. Smith own the store in common./ * /The four boys grew up together and have a lot in common./ * /The swimming pool is used in common by all the children in the… …   Dictionary of American idioms

  • in\ common — adv. phr. Shared together or equally; in use or ownership by all. Mr. and Mrs. Smith own the store in common. The four boys grew up together and have a lot in common. The swimming pool is used in common by all the children in the neighborhood.… …   Словарь американских идиом

  • in common — shared together or equally, in use or ownership by all We had to use the bathroom in common with the other people in the house …   Idioms and examples

  • in common — Participating or sharing in ownership, use or enjoyment of anything. Land open to public use. 35 Am J2d Fen § 19. See estate in common …   Ballentine's law dictionary

  • tenancy in common — see tenancy Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. tenancy in common …   Law dictionary

  • tenancy in common — UK US noun [C or U] (plural tenancies in common) PROPERTY, LAW ► a legal agreement in which two people or groups share ownership of a piece of property, but each person s share of the property is not passed automatically to the other tenant or… …   Financial and business terms

  • tenant in common — ˌtenant in ˈcommon noun tenants in common PLURALFORM [countable] LAW PROPERTY a person who shares the ownership of land or property with two or more other people * * * tenant in common UK US noun [C] (plural tena …   Financial and business terms

  • Tenancy In Common — A way for two or more people to have equal ownership interests in a property. Each owner has the right to leave his or her share of the property to any beneficiary upon the owner s death. Each party (owner) in a tenancy in common agreement has… …   Investment dictionary

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