In real estate, co-tenancy refers to a form of property ownership in which two or more individuals hold ownership interests in the same parcel of land at the same time. Each co-tenant has the right to possess and use the entire property, regardless of the size of their ownership share, unless otherwise agreed. Common forms of cotenancy include tenancy in common and joint tenancy, each of which has distinct legal characteristics.
Under co-tenancy arrangements, ownership interests may be equal or unequal depending on the type of tenancy. Tenants in common may transfer or bequeath their interest independently, while joint tenancy includes the right of survivorship, meaning an owner’s interest automatically passes to the remaining owners upon death. Co-tenancy is frequently used in real estate transactions involving family members, business partners, or investors who wish to share ownership of a property.
