Concurrent Estate Law and Legal Definition
Concurrent estate means a property is owned by more than one person at a time. Where more than one person owns a property the owners are referred as co-owners.
In concurrent estate, the right of parties to sell the property to others depends on the type of ownership.
Under concurrent estate, joint owners or co-owners have certain rights. They are:
1. Each owner has an unrestricted right of accessing the property;
2. Each owner has a right to accounting of profits made from the property;
3. Each owner has a right of contributing for the costs of owning the property.