Joint owned property is any property held in the name of two or more parties.

Some examples include land and buildings; goods like clothing and furniture; intangible things such as patents and trademarks; services like taxi rides and hotel stays; rights such as copyrights and royalties; animals such as pets and livestock.

Property is what belongs to or with something, whether as an attribute or as a component of said thing. In the context of this article, it is one or more components (rather than attributes), whether physical or incorporeal, of a person's estate; or so belonging to, as in being owned by, a person or jointly a group of people or a legal entity like corporation or even society.

Ownership can be determined through many different ways depending on what type of property we are talking about &91;2&93;; however there are two main types that will be discussed here &91;; tangible vs intangible &91;;

To own means to have legal title over property. This can be contrasted with having possession over something physically but not owning it legally. For example, if someone has been given the right to use another's car for several days but has no legal title over that car then he does not truly own it despite his possession over it. The same applies if he owns something but cannot use it because he lacks the legal right to do so e.g., if someone owns shares in company X but cannot sell them because they are subject under contract Y which forbids him from doing so then he does not really own those shares despite possessing them physically since he cannot exercise his ownership rights over them i.e., sell them freely on the market without violating contract Y which would violate law Z &91;1&93; .

A husband and wife, business partners or any other combination of people who have a reason to own property together.

By avoiding probate, a lengthy, costly and public process of distributing the deceased's assets in court.

It can simplify things if one owner dies.