What is the term for two or more individuals owning property simultaneously?

The term for two or more individuals owning property simultaneously is known as Concurrent Estates. This concept encompasses various forms of joint ownership, allowing multiple parties to hold an interest in the same property at the same time. Each co-owner may have different rights, which can vary depending on the specific type of concurrent ownership established.

In the context of real estate, "Concurrent Estates" can include different arrangements such as Tenancy in Common and Joint Tenancy, each of which has its distinct characteristics and implications for separation of interests, rights of survivorship, and division of property interests. Understanding Concurrent Estates is fundamental in real estate, as it affects how properties can be utilized, inherited, and sold among multiple owners.

While Tenancy by the Entirety refers specifically to a form of joint ownership for married couples, and a Condominium represents a specific type of real estate ownership structure, neither captures the broader concept of simultaneous ownership among two or more individuals. Thus, Concurrent Estates correctly identifies the primary term for shared ownership.