Ownership of an asset, such as property, by two or more parties. Joint ownership of property has advantages and disadvantages compared with individual ownership. For example, the property automatically passes to the co-owners upon the death of one of the other owners. Also, with one type of joint ownership, one owner can sell the property without the permission of the other owners. See also joint tenancy with right of survivorship, tenancy by the entirety, tenancy in common.
