noun a legal arrangement where two or more individuals share ownership of a property or asset
In real estate, joint ownership refers to when two or more individuals share ownership of a property. This can be in the form of joint tenancy, tenancy in common, or as tenants by the entirety.
In business, joint ownership can refer to a partnership where two or more individuals share ownership and responsibility for a business entity.
In the field of intellectual property, joint ownership can occur when two or more individuals share ownership of a patent, trademark, or copyright.
In estate planning, joint ownership may be used as a method of passing on assets to heirs or beneficiaries, such as through joint bank accounts or joint investment accounts.
In marriage and family law, joint ownership can refer to shared ownership of assets acquired during a marriage, such as joint bank accounts or jointly owned property.
In the publishing industry, joint ownership of a book may occur when two or more writers collaborate on a project and share equal rights to the work.
In the field of psychology, joint ownership may refer to shared ownership of research data or intellectual property between multiple researchers or institutions.
Real estate agents may encounter joint ownership when multiple parties co-own a property, such as in the case of a married couple buying a home together.
Lawyers may handle cases involving joint ownership of assets, businesses, or intellectual property, and provide legal advice on the rights and responsibilities of co-owners.