Cotenancy
Definition of "Cotenancy"
When two or more individuals simultaneously have rights in a property unit (e.g., apartment),. The individuals sharing the property have legal privileges and responsibilities to each other. Before a cotenant is accepted, careful consideration should be given because problems may arise.
Popular Real Estate Terms
An agreement in which the trustee takes title of the property ( called corpus) owned by the grantor (donor) to protect or conserve it for either the grantor or the trust's beneficiary. The ...
Lessening of work assignments such as when a real estate management firm reduces the number of buildings assigned to each manager. By reducing someone's schedule, he will probably do a ...
Written statement in a deed limiting the number, type, size, and use of property. See also deed covenants. ...
Giving money, a good, or service that is worth something in exchange for another good or service provided by the other party. An example is paying cash for the market price of a home. ...
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Thin layer or slate of baked clay, linoleum, or some other material that is used for covering floors, roofs, or as an ornament in a building. ...
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Holder of a real estate license who solicits a prospective buyer of property and receives a commission for his efforts. ...
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