Rights and Duties of Co-owners (general)
Under the common law, Co-owners share a number of rights by default:
- Each owner has an unrestricted right of access to the property. When one co-owner wrongfully excludes another from using the shared property, the excluded co-owner can bring a cause of action for ouster. As a remedy, the court may grant the wronged co-owner the fair rental value of the property for the time that they were ousted.
- Each owner has a right to an accounting of profits made from the property. If the property generates any income (e.g. rent, farming, etc. . . .) each owner is entitled to a pro-rata share of that income.
- Each owner has a right of contribution for the costs of owning the property. Co-owners can be forced to contribute to the payment of expenses such as property taxes, or mortgages for the entire property.
Read more about this topic: Concurrent Estate
Famous quotes containing the words rights and/or duties:
“... the Black woman in America can justly be described as a “slave of a slave.””
—Frances Beale, African American feminist and civil rights activist. The Black Woman, ch. 14 (1970)
“The traditional husband/father has always made choices concerning career, life-styles, values, and directions for the whole family, but he generally had another person on the team—called a wife. And his duties were always clear: Bring home the bacon and take out the garbage.”
—Donna N. Douglass (20th century)