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.

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  • common ownership — ➔ ownership * * * common ownership UK US noun [U] ► LAW a situation in which several related companies, etc. are owned by one person or organization: »The BBC offers a variety of opinions despite common ownership of all its channels. »The… …   Financial and business terms

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  • common — com·mon 1 adj 1 a: of or relating to a community at large: public common defense b: known to the community a common thief 2: belonging to or shared by two or more persons or things or by all members of a group …   Law dictionary

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

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  • Common-interest development — Common Interest Developments (abrev. CID) is the fastest growing form of housing in the world today.[1][2] They are commonly known and seen as condominiums, timeshares, planned unit developments along with other titles and descriptions. The… …   Wikipedia

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