Ownership by two or more parties

• A. Sole Ownership
• B. Tenancy in Common
• C. Concurrent Ownership
• D. License

Answer: (C)

Ownership by two or more parties is concurrent ownership. This umbrella term covers when multiple people hold title to the same property and have the right to possess it together. It contrasts with sole ownership, where a single person holds the title, and with a license, which is merely permission to use the property and does not create an ownership interest. Within concurrent ownership, tenancy in common is a common form (co-owners can hold unequal shares and there’s no right of survivorship), while joint tenancy is another form that includes right of survivorship and requires specific unities. The key idea for this question is that two or more people share ownership, which is what concurrent ownership describes.