Undivided Ownership
Property owned by multiple parties that does not distinguish a specific physical part of the property to any one individual. Each owner also has equal rights to use the entire property, without regard to percentage of ownership.
For Example:
One joint owner of real estate may not typically place a fence around any portion of the property and exclude another joint owner from using the fenced portion.
See: Tenancy in Common; Joint Tenancy with the Right of Survivorship; Tenancy by the Entireties
Property owned by multiple parties that does not distinguish a specific physical part of the property to any one individual. Each owner also has equal rights to use the entire property, without regard to percentage of ownership.
For Example:
One joint owner of real estate may not typically place a fence around any portion of the property and exclude another joint owner from using the fenced portion.
See: Tenancy in Common; Joint Tenancy with the Right of Survivorship; Tenancy by the Entireties