What is a 'Co-Owner'
A co-owner is an individual or group that shares ownership in an asset with another individual or group. The co-owner of an asset owns a percentage, though the amount may vary according to the ownership agreement. The rights of each owner are typically defined in accordance with a contract or written agreement, which include treatment of revenue and tax obligations.
BREAKING DOWN 'Co-Owner'
The relationship between co-owners can vary, and the financial and legal obligations depend on the benefits each party ultimately look to receive.. For example, in real estate, the parties involved may operate under a Joint Tenancy or Tenancy In Common.