What Is A Concurrent Estate In Real Estate? Concurrent estate or co-tenancy in property law refers to the ownership of a property by more than one person at the same time. These co-owners are commonly referred to as co-tenants or joint tenants, with joint tenancy indicating a right of survivorship. Most common law jurisdictions acknowledge […]
What Is A Tenancy-In-Common Ownership of Property? A tenancy-in-common (TIC) is a type of concurrent estate wherein multiple parties own a share of the same property. There is no right of survivorship which means that each party has an equal right to use and possess the entire property; if one party dies, their share passes […]
What Is A Strata Title Property? Strata title is a form of ownership and housing tenure specifically designed for buildings with multiple levels, such as high-rise apartments or horizontal subdivisions. The strata title system allows individual ownership of an apartment or unit, with shared responsibility for the cost associated with maintaining and managing common areas […]
What Is Meant By The Absentee Landlord? An absentee landlord owns and rents a property but does not reside near or on the property. This term usually has a negative connotation as it suggests that the landlord is only interested in monetary gain and lacks concern for the surrounding community. They may manage their properties […]
