Joint Property Law & Legal Definition
Joint property is property with more than one owner. In divorce law, joint property is distinguished from a marital asset, which refers to all property acquired during the course of the marriage, regardless of ownership or who holds the title to it. Marital assets may consist at least partly of joint assets.
Joint property may be owned under different forms of ownership. For example, in real estate law, joint property may be held as tenants in common, tenants by the entireties, or joint tenants. For example, In Florida, unlike most other states, all types of property, including all real property, tangible personal property, and intangible personal property, may be owned by a married couple as tenants by entireties.
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