Co-tenants refers to individuals who jointly own property. Each co-tenant has an undivided interest in the property, and they share rights and responsibilities regarding its use, maintenance, and management. Co-tenants typically have equal rights to possess and enjoy the property, but they may have different ownership shares if specified in the ownership agreement. Co-tenants owe each other duties of good faith and fair dealing, and disputes among them are often resolved through legal actions such as partition or accounting.
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This glossary post was last updated: 29th March 2024.
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