Cotenants

Cotenants are two or more people who own real property together and hold an undivided interest in the property. They may own as joint tenants, with a right of survivorship, or as tenants in common, without survivorship. In a joint tenancy, the four unities of time, title, interest, and possession are present; in tenancy in common the shares may be equal or unequal and there is no survivorship.

Each cotenant has a right to possess the entire property, regardless of their share. Profits and benefits from the property are generally shared in proportion to ownership, and each cotenant is responsible for their share of expenses such as mortgage payments, taxes, insurance, and maintenance, unless the cotenants agree otherwise. A cotenant who excludes others or commits waste can be liable to the others.

If a cotenant uses or rents the property, the other cotenants are typically entitled to a share of the rents in proportion to their interests, subject to any agreement. When disputes arise, cotenants may seek partition to divide the property, either physically or by sale, with proceeds distributed according to ownership interests.

Transfers and severance: A cotenant may transfer their interest. In a joint tenancy, a transfer by one cotenant generally severs the joint tenancy as to that share, creating a tenancy in common for the transferee and the remaining owners, in many jurisdictions. In tenancy in common, transfers do not create survivorship rights.

Survivorship and succession: Upon a co-owner’s death, a joint tenancy interest passes to the surviving cotenants; a tenancy in common passes to heirs or as directed by the deceased’s will.