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:
“Dat little man in black dar, he say women can’t have as much rights as men, ‘cause Christ wan’t a woman! Whar did your Christ come from? Whar did your Christ come from? From God and a woman! Man had nothin’ to do wid Him.”
—Sojourner Truth (1797–1883)
“There must be a world revolution which puts an end to all materialistic conditions hindering woman from performing her natural role in life and driving her to carry out man’s duties in order to be equal in rights.”
—Muammar Qaddafi (b. 1938)