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When two or more people own a property together, it is called co-ownership. These properties are called jointly-owned properties. These parties owning the property together could be business partners, friends, family, or another group of people having common interests.
(2) Possession of joint property by one co-owner is in the eye of law, possession of all even if all but one are actually out of possession. (3) A mere occupation of a larger portion or even of an entire joint property does not necessarily amount to ouster as the possession of one is deemed to be on behalf of all.
Thus, a co-owner, can under law, claim title by adverse possession against another co-owner who can, of course, file appropriate suit including suit for joint possession within time prescribed by law."
Co-owners have a proprietary right to the entire property under the Transfer of Property Act. Therefore, any sale must have the approval of all co-owners concerned. For instance, in the event of a house, permission must be obtained from all co-owners.
Joint ownership of property is simply a case in which two or more people own the same piece of property. Co-owners do not have to be people. They might be other kinds of legal entities, e.g. partnerships or corporations. There are a number of ways in which two or more people can own property together.