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Advantages of joint ownership of property


 
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Advantages of joint ownership of property

Postby huma on Mon Jul 05, 2010 11:26 am

Property may be owned either singly or jointly. Joint ownership connotes equal rights to use the property along with equal title.
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When two or more persons are joint owners of a property, it is understood that there is unity in title, possession, interest and commencement of title.

Common ownership, in contrast with joint ownership, has unity of possession and commencement of title, but the other two features, unity of interest and title, are missing.

Another feature that distinguishes joint ownership from common ownership is that in the former succession is by survivorship.
huma
 
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