Joint ownership, usually referring to an estate that is inherited by two or more persons and divided equally.
Law Dictionary – Alternative Legal Definition
A species of estate, or tenancy, which exists where lands of inheritance descend from the ancestor to two or more persons. It arises in England either by common law or particular custom. By common law, as where a person, seised in fee simple or fee-tail, dies, and his next heirs are two or more females, his daughters, sisters, aunts, cousins, or their representatives; in this case they all inherit, and these coheirs are then called “coparceners,” or, for brevity, “parceners” only. Litt.