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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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If a cotenant in possession seeks contribution for amounts expended toward preservation of real property, it can be argued that 50 percent of the reimbursable household expenses paid by the cotenant in possession can be set off by 50 percent of the fair rental value of the property by the out-of-possession cotenant.
a] major consequence of the existence of a fiduciary relationship among a group of cotenants is that an individual cotenant who acquires an outstanding superior title to the common property must hold it for the benefit of the other cotenants, provided they offer to contribute their pro rata shares of the cost of acquisition within a reasonable time.
Ordinarily, in absence of a waiver or estoppel, each cotenant has an "absolute" right to partition the common property, even if the property is leased to another party or a cotenant or is subject to an easement, mortgage, or trust deed.
1993); Evelyn Alicia Lewis, Struggling with Quicksand: The Ins and Outs of Cotenant Possession Value Liability and a Call for Default Rule Reform, 1994 WIS.
24) The court, considering Fred's adverse possession claim, then stated that the possession of a cotenant "becomes adverse on unmistakable repudiation of the owner's right by the possessor and notice thereof to the owner.
1904) (holding that a tenant in common is entitled to a lien on the shares of his cotenants in the land for taxes paid by him beyond his proportionate share and for any sum due him for improvements or rent from his cotenants); RESTATEMENT (THIRD) OF RESTITUTION & UNJUST ENmCHMENT [section] 24 cmt.
and foreign nations as cotenant trustees vis-a-vis one another with
Fourth, all closing documents, books, records, and tax returns should reflect ownership by cotenants and a disposition of the property by the partnership to the cotenant long before any exchange transaction involving the property occurs.
Randolph modifies that doctrine to recognize that an occupant can no longer be said to have assumed the risk that his cotenants will allow others to enter when he is physically present and objecting.
In a tenancy in common, each cotenant owns an equal share of the property, which means that each co-tenant has an equal right to possess or use the entire property and the rent or maintenance costs of the property are shared among the co-tenants according to their ownership interests.
According to statute, after the appraisal report was submitted to the court, interested co-owners had thirty days to pay the court a sum equal to the value of the property interest the cotenant wished to purchase.
1978) (describing tribal and state rights to a shared migratory fishery as "something analogous to a cotenancy, with the tribes as one cotenant and all citizens of the Territory (and later of the state) as the other") (citation omitted); United States v.
The Denver-based chain plans to raze the mid-'60s-vintage hotel and break ground on April 1 on a 21,441-square-foot, single-story building, which will house the grocery store, and a 3,200-square-foot cotenant - most likely a restaurant "that would be synergistic with our operation," Natural Grocers coPresident Kemper Isely said.
In addition, there existed limited development possibilities for the taxpayer, given that the Nature Conservancy was a cotenant.