THE ESSENTIAL DIFFERENCES BETWEEN CO-OWNERSHIP AND JOINT OWNERSHIP

Abstract

The subject of analysis in this paper will be joint ownership as one of the sub-forms of the right of ownership

As the paper will show, joint ownership as a sub-form of the right of ownership shares common characteristics with other sub-forms of the right of ownership co-ownership, and condominium ownership. A common feature for all the sub-forms of the right of ownership is that they represent ownership of several persons to an undivided thing, where the right of ownership is divided by extent among its holders. As a result of the division of the right of ownership, complex legal relations arise between the holders of the right regarding the acquisition, exercise, protection, and termination of ownership. In the manner in which the relations between the holders of the shared right of ownership are established and regulated, we find the essential differences between co-ownership and joint ownership, which will be presented and analyzed in this paper.

The paper’s main goal is to make a clear distinction between these two property law institutes by analyzing the legal nature of joint ownership and presenting the essential differences between joint ownership and co-ownership. Distinguishing co-ownership from joint ownership is of great relevance in civil doctrine and legal practice because the correct understanding of the differences between these two sub-forms of ownership leads to the proper application of substantive law in practice.