cotenant

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  • noun

Words related to cotenant

one of two or more tenants holding title to the same property

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References in periodicals archive ?
of cotenancy are GP forms, fragmenting ownership rights of possession,
The three principal theories that could be used by the Service to challenge tax-free treatment are (1) the partners do not hold the property for a qualified use, (2) the step-transaction doctrine, and (3) the partners' cotenancy in the property is a partnership.
Reliance on notions of "communities of interest," mortgagees as trustees, and cotenancy law analogies in this context cannot be sustained.
Nonetheless, several episodes in the history of cotenancy law in
Cotenancy is a legal term designating ownership of undivided interests in real property by more than one person.
Alternatively, in our proposed competitively ruled joint ownership property right regime it is decreed that (1) the facility must have two or more co-owners each having an agreed share of the rights to the capacity of the facility (In practice a common cotenancy contract rule is for each cotenant to receive capacity rights in proportion to his contribution to capital cost).
Another red flag is a cotenancy clause that permits a drug or grocery store to close if the other one vacates the space.
Considering the statute, its legislative history,(41) and the common law conceptions of cotenancy, adverse possession and ouster,(42) this interpretation seems reasonable.
This is an ideal location for Mirage given its strong cotenancy and heavy pedestrian traffic from office workers and residents alike," said Marmarou who noted that nearby tenants include Cosi, Chipotle, Guy & Gallard, and a brand new Lenwich by Lennys's on the corner of East 31st Street.
Cotenancy regimes create an incentive for the cotenant-in-possession to overuse the asset because she gets the full marginal benefit of the use, whereas the marginal cost is spread out among all cotenants.
traditional remedy in both the cotenancy and trust contexts.
Another common situation is when an individual owns real property in the northern state, apparently in cotenancy with others because that is the way title is held under the deed.
265) Other states allow courts to order a partial partition, thus respecting the desires of those who wish to remain in cotenancy.
Such shared interests are best described as a sovereign cotenancy.
The space offers cotenancy, heavy pedestrian traffic and proximity to several subway lines, as well as Banana Republic, Club Monaco, Steve Madden, Victoria's Secret and Dean & DeLuca stores all nearby.