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.