Assignment of Interests in Right of Way (Undivided Interest)
Description Undivided Interest In Land
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FAQ
Ownership right to use and possess property that is shared by two or more co-owners. No individual co-owner has an exclusive right to any portion of the property.
If you are tenants in common, you have an undivided interest in the property; as this type of owner, you can sell only your interest in the property. To sell the whole piece, all owners must agree to sell. Joint tenancy gives rights of survivorship to the surviving co-owner when one of the owners dies.
Since the joint tenants have equal interest, the property cannot be sold without all parties' consent. Instead of selling, a joint tenant can choose to transfer their interest to another party.Therefore, the property cannot be passed down to the heirs of the joint tenants.
Another method is to partition the land through some legal agreements & documents whereby the undivided interests become DIVIDED interests into individual sole title owners. In this case, each owner receives a share of their deeded land with specific boundaries .
If you are tenants in common, you have an undivided interest in the property; as this type of owner, you can sell only your interest in the property. To sell the whole piece, all owners must agree to sell. Joint tenancy gives rights of survivorship to the surviving co-owner when one of the owners dies.
Another method is to partition the land through some legal agreements & documents whereby the undivided interests become DIVIDED interests into individual sole title owners. In this case, each owner receives a share of their deeded land with specific boundaries .
Definition from Nolo's Plain-English Law Dictionary Ownership right to use and possess property that is shared by two or more co-owners. No individual co-owner has an exclusive right to any portion of the property.
An undivided interest is An ownership right to use and possession of a property that is shared among co-owners, with no one co-owner having exclusive rights to any portion of the property.1 For example, assume an asset is owned by four family members through a Tenancy in Common.
Being a co-owner of 50% share in the property, you can sell your share. Under the provisions of Section 44 of the Transfer of Property Act, 1882, a co-owner can transfer his share in an immovable property and this section lays down as to what rights are acquired by the buyer / transferee in such case: 44.