Co-ownership refers to any of several legal arrangements by which property is owned by more than one person. This includes forms such as Tenancy in Common, Joint Tenancy, Community Property, Partnership, LLP, and LLC.
Community Property refers to the principle under which property accumulated through the joint efforts of spouses is considered equally owned by both. This legal doctrine exists in several U.S. states and impacts how assets are divided in events such as divorce or death.
Joint ownership refers to a property ownership structure where two or more individuals hold title to a property collectively. This structure can have various legal implications, depending on how the ownership is defined and agreed upon among the parties.
In community property states, separate property refers to property acquired by either spouse prior to marriage or by gift or devise after marriage, as distinct from community property.
