noun
- the state or condition of being a cotenant; joint tenancy of a property by two or more people.
Usage: legal/property law term; also called joint tenancy or tenancy in common depending on jurisdiction
Examples
- The cotenancy agreement specified how rent and utilities would be divided among the three roommates.
- Under cotenancy, each tenant has equal rights to the entire property.
- The landlord required all parties to sign the cotenancy contract before moving in.
- When one cotenant wanted to leave, the cotenancy had to be formally dissolved.
- Cotenancy can create complications if one tenant fails to pay their share of rent.