What does Co -ownership of property mean? Co-ownership, or joint ownership means when two or more persons hold title to the same property. What are the types of co-ownership? Tenants in Common: When two or more people buy a property but do not specifically mention the share that each has in the property, a 'tenancy-in-common' is said to exist. All the co-owners can use the entire property and every co-owner is deemed to be having an equal share in the property. Joint tenancy: Joint tenancy is a form of co-ownership where property is owned by two or more persons at the same time in equal shares. This type of tenancy provides rights to ownership of the property for the co-owners who outlive other co-owners. Tenancy by entirety: This is a special form of joint tenancy when the joint tenants are namely the husband and wife -- with each owning one-half.