When property is owned by two or more individuals, what is this type of ownership called?

When property is owned by two or more individuals, this type of ownership is referred to as co-ownership. This term broadly encompasses various forms of multiple ownership, including joint tenancy and tenancy in common. Co-ownership signifies that multiple parties hold an interest in the property, which can lead to shared rights and responsibilities regarding its use, maintenance, and any associated financial obligations.

Sole ownership, on the other hand, refers to a situation where a single individual holds the complete ownership of a property, making it distinct from co-ownership. Joint tenancy is a specific type of co-ownership that includes rights of survivorship, meaning that upon the death of one owner, their interest in the property automatically passes to the surviving owner(s). An easement is a different legal concept altogether; it grants someone the right to use a portion of another person's property for a specific purpose, rather than ownership of the property itself.

Thus, co-ownership effectively captures the essence of what it means to have multiple individuals owning a property together.