A concurrent estate or co-tenancy is a concept in
property law, particularly derived from the
common law of
real property, which describes the various ways in which property can be owned by more than one person at a given time. The parties who own property jointly are referred to as co-tenants or joint tenants. Most common-law jurisdictions recognize three kinds of concurrent estate: tenancy in common, joint tenancy with right of survivorship, and tenancy by the entirety. Many jurisdictions simply refer to a joint tenancy with right of survivorship as a joint tenancy, but a few
U.S. States treat the phrase joint tenancy as synonymous with a tenancy in common.
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