What is the term for property held by two or more people?

The term that describes property held by two or more people is co-ownership. This concept encompasses various forms of ownership arrangements where multiple individuals hold interests in the same property. Co-ownership can take on different legal structures, including joint tenancy and tenancy in common, which are types of co-ownership.

Joint tenancy allows co-owners to have equal shares in the property and includes the right of survivorship, meaning if one owner passes away, their share automatically transfers to the other co-owners. Other forms of co-ownership, such as tenancy in common, do not include the right of survivorship, allowing each owner to pass their share on to heirs.

Sole ownership indicates that a single individual owns the entire property, while trust property pertains to real estate held in a trust arrangement, which is not relevant when specifically discussing ownership by multiple individuals. Thus, co-ownership accurately captures the essence of property being held by two or more people.