Undivided property, also known as property held in common or as tenants-in-common, refers to a situation where multiple individuals own a single piece of real estate without specified, distinct portions. Each owner possesses an interest in the entire property, though the percentage of ownership may vary. For example, siblings inheriting a family home may hold the property as tenants-in-common, each with an equal or otherwise predetermined share.
Understanding the complexities associated with this type of ownership is crucial because decisions regarding the property require agreement among all co-owners. Disagreements can lead to legal disputes and hinder development or sale of the land. The historical context often involves inheritance, family arrangements, or investment partnerships, making the emotional and financial considerations particularly sensitive.
