This is a situation where two or more persons are entitled to the simultaneous enjoyment of land. A co-ownership may be a joint tenancy or tenancy in common. A joint tenancy is characterized by jus accrescendi and the four unities. A tenants interest cannot be disposed off by will or pass to a beneficiary. In a tenancy in common, each tenant has a distinct fixed share in property which has not yet been divided among the co-tenants. A tenants interest is disposable by will.
Co-ownership may be terminated in various ways for example,
- Partitioning of the property concerned by mutual consent.
- Union in a sole tenant i.e. becomes vested in one person.
- Sale of the property to another person.
- Severance i.e. conversion of a joint tenancy to tenancy in c.ommon