JOINT OWNED PROPERTY

Any real estate property with two or more individuals. It can be a husband and wife, business partners, or any combination of individuals who have any reason to own property together. Property that is jointly owned can be held in one of many legal documents such as joint tenancy, community property, tenancy by the entirety, or in a trust. Individuals who have a joint owned property undertake equal responsibility anything related to tax or mortgage obligations on the property.