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joint ownership

   Also found in: Dictionary/thesaurus, Wikipedia 0.07 sec.
joint ownership
Ownership of an asset, such as property, by two or more parties. Joint ownership of property has advantages and disadvantages compared with individual ownership. For example, the property automatically passes to the co-owners upon the death of one of the other owners. Also, with one type of joint ownership, one owner can sell the property without the permission of the other owners. See also joint tenancy with right of survivorship (JTWROS), tenancy by the entirety, tenancy in common.
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There are normally three ownership variations with respect to the former marital residence: joint ownership, transfer to one spouse, and joint ownership with only one inhabiting the house.
Divorce and gain exclusion by Gibson, Dan / The Tax Adviser
Rather than having a joint ownership where each is compromising to the other's desires, I think it's just a matter of better control for both firms," he said.
Jet manufacturer, Northrop Grumman end joint venture: Amsec, which ... by Clough, Richard / Los Angeles Business Journal
The deal is an extension of a two-year partnership that has included joint ownership of a construction and building event Feicon BATIMAT, and the launch of two new events, ISC Brazil (physical security) and SISP (real estate).
Reed Exhibitions expands in Brazil by Business Publisher
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