Concurrent Estate - Rights and Duties of Co-owners (general)

Rights and Duties of Co-owners (general)

Under the common law, Co-owners share a number of rights by default:

  1. 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.
  2. 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.
  3. 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)

    So didst thou travel on life’s common way,
    In cheerful godliness; and yet thy heart
    The lowliest duties on herself did lay.
    William Wordsworth (1770–1850)