co-ownership
Definition
- Noun:
- Joint ownership: "co-ownership" refers to the state or right of owning something together with one or more other people. It implies shared legal title or interest in property, assets, or other items.
Usage Examples
- (Both siblings share legal ownership of the house.)
- (Joint ownership gives each partner rights and responsibilities.)
- (A legal document outlining shared ownership terms.)
Advanced Usage
"Tenancy in co-ownership": a specific legal arrangement where multiple parties hold title to property simultaneously, often with defined shares.
- Under tenancy in co-ownership, each owner can sell their share independently. (Each co-owner has a distinct, transferable portion.)
"Co-ownership of intellectual property": joint rights to patents, copyrights, or trademarks.
- The researchers established co-ownership of the patent for their invention. (Both parties share legal rights to the patent.)
Variants and Related Words
Co-owner (n): a person who shares ownership with another or others.
- Each co-owner must agree before the property can be sold. (Any joint owner's consent is required.)
Co-own (v): to own something jointly.
- They decided to co-own the boat to split the costs. (They share ownership of the boat.)
Synonyms
- Joint ownership: the condition of owning something together.
- Shared ownership: ownership divided among multiple parties.
- Common ownership: ownership held collectively, often without individual shares.
Related Idioms
"In common": shared by two or more people.
- The land is held in common by the community. (The land is co-owned by all members.)
"Joint tenancy": a specific form of co-ownership where survivors inherit the deceased's share automatically.
- They bought the apartment as joint tenants, so if one dies, the other inherits the whole property. (A legal arrangement for co-ownership with right of survivorship.)