joint ownership

(redirected from Jointly Owned Property)
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Related to Jointly Owned Property: Joint Tenants with Rights of Survivorship
See: pool
References in periodicals archive ?
ICA Real Estate has since previously been a partner in the jointly owned property company Ancore Fastigheter together with the occupational pensions company Alecta.
Though Dubai authorities introduced the jointly owned property (JOP) law in 2007 to govern the collection of maintenance fees, administration and management of freehold property, it is yet to be fully implemented across the board.
But logic -- and fairness -- would dictate that once a building has been handed over to the owners for so long, then the owners are responsible and the developer should not be liable for its insurance or maintenance due to a technicality such as the non-creation of an owners' association due to staged implementation of the Jointly Owned Property Law.
To recap: jointly owned property is the term used to describe a building or land that has been divided into units, with a part of the development designated as common areas.
In fact as early as September 2010, the Land Department said that developers will have to provide their investors with an extensive and detailed statement of the project when selling units in Jointly Owned Property (JOP).
One in four children is born to cohabitees, and recent actions have involved custody of children, jointly owned property, bank accounts and even pets.
The involvement of Owners and the formation of the Owner Management Boards are essential to successfully transitioning the control and management of Jointly Owned Property from the Developer to the Owners Association once registered.
comes as a result of the release of the regulatory framework of the 'Dubai Jointly Owned Property LawAAE (Law No.
Do not change the locks of a jointly owned property without seeking legal advice.
However, the title deeds to jointly owned property are often worded so that if one owner dies the other gets the whole of the property.
This is because the entire value of jointly owned property must be included in Jack's gross estate--not the one-half interest that he owns.
This applies to jointly owned property, too, even after the debtor has been discharged.