Cotenancy Legal Meaning and Definition

Here is a simplified definition of the legal term Cotenancy.

Cotenancy (noun)

A legal term that refers to the shared ownership of property by two or more individuals, where each person holds an interest in the property. This type of ownership can occur in various forms such as joint tenancy or tenancy by the entirety. Each cotenant has a right to use, possess, and enjoy the entire property, regardless of their share of the ownership.