undivided interest


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undivided interest

n. title to real property held by two or more persons without specifying the interests of each party by percentage or description of a portion of the real estate. Such interests are typical between joint tenants, tenants in common, tenants by the entirety (See: real property)

References in periodicals archive ?
To earn a 51% undivided interest in the SIB project from Eskay Mining, Silver Standard is required to complete a USD 300,000 private placement in Eskay Mining, and spend an aggregate of USD 11.
Following the exercise of the first option, Weststar may elect to have a second option to earn an additional 30% undivided interest in the Property in consideration for an additional amount of $1,000,000 in exploration expenditures on the property over a period of two (2) years.
The court went on to hold that in view of the lack of a "common and undivided interest," neither the total disgorgement amount requested nor the possible punitive damages could be used to satisfy the jurisdictional amount requirement.
The aggregation of these fractional undivided interests would preempt the use of a valuation discount that would otherwise be available if the interests were valued separately.
Further, pursuant to the agreement BHP has the option to buy a 50% undivided interest in 51,720 net acres on or before 1 May 2012 after initiating horizontal completion of one of the two wells in which operation it will help Energen Resources.
Example: X gives a 1/12 undivided interest in a sculpture to a museum, allowing it to display it one month per year.
However, it is a question of fact whether payments an employee receives from the employer (under an employment contract or otherwise) are attributable to the employee's transfer of all substantial rights to a patent (or an undivided interest therein) or are compensation for services rendered.
A co-owner may generally issue an option to purchase its undivided interest in the property (i.
A tax adviser should consider creating discount opportunities for an estate of a surviving spouse by providing on the death of the first spouse for an undivided interest in property to pass outright to the surviving spouse and any remaining interest to pass to a QTIP trust for the surviving spouse's benefit.
Novicourt" or the "Company") is the owner of a 45% undivided interest in the now closed Louvicourt Mine through its participation in the Novicourt/Aur Resources Inc.
Normabec has agreed to acquire the Optionor's 100% undivided interest in the Property located in the northern part of the San Luis Potosi State, approximately 25 kilometers west of the town of Matehuala, which lies approximately 200 kilometers due south of the industrial cities of Monterrey/Saltillo and about 170 kilometers due north of the city of San Luis Potosi.
Instead, Warren should make a gift of an undivided interest in the specified assets to his wife, Buffy, and they should jointly form the partnership.