CO-OWNERSHIP

Co-ownership denotes a scenario in which two or more individuals collectively possess a property. Each co-owner retains a portion of the property, distributing ownership duties and expenses among themselves.

Each co-owner holds a portion of the property, with the ownership structure being customizable, ranging from equal shares to specific percentages. Co-ownership can be formalized through diverse legal frameworks, typically accompanied by explicit agreements delineating the rights, obligations, and potential exit plans for each co-owner. This arrangement is frequently adopted by individuals pooling resources to collectively purchase and possess a property.