The estate is used to repay all of the person's outstanding debt. Estate The assets that a person owns when he/she dies. However, they may own different fractional shares of the property. The estate includes all personal property, real estate, securities and other assets. Where more than one person owns a property the owners are referred as co-owners. A concurrent estate or co-tenancy is a concept in property law which describes the various ways in which property is owned by more than one person at a time. What is Concurrent estate? Joint ownership. No, a concurrent estate or co-tenancy does not describe anything. From the Wikipedia: "A concurrent estate or co-tenancy is a concept in property law which describes the various ways in which property is owned by more than one person at a time. It is sometimes also referred to as concurrent estate. 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. If more than one person own the same property, they are referred to as co-owners, co-tenants or joint tenants. concurrent estate (countable and uncountable, plural concurrent estates) Any of various forms of ownership of property by more than one person at a time Browse US Legal Forms’ largest database of 85k state and industry-specific legal forms. Available under CC-BY-SA license. En savoir plus. How about: Property law distinguishes various types of concurrent estate or co-tenancy, in which property is owned by more than one person at a time. After debts are repaid, the estate may be taxed, depending on the value of the remaining assets. A concurrent estate or co-tenancy is a concept in property law which describes the various ways in which property is owned by more than one person at a time. Definition. (legal) Any of various forms of ownership of property by more than one person at a time. Definition, Synonyms, Translations of Concurrent estate by The Free Dictionary All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. concurrent-estate. If more than one person own the same property, they are referred to as co-owners, co-tenants or joint tenants. The people involved in such a transaction can be joint tenants, co-tenants, or co-owners as well. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Meaning of Concurrent estate as a finance term. ¹ Source: wiktionary.com. Concurrent estates synonyms, Concurrent estates pronunciation, Concurrent estates translation, English dictionary definition of Concurrent estates. "You have an excellent service and I will be sure to pass the word.". Under concurrent estate, joint owners or co-owners have certain rights. Unless the instrument creating the concurrent ownership clearly says otherwise, co-owners are tenants in common. Each owner has a right of contributing for the costs of owning the property. 2. Concurrent estate means a property is owned by more than one person at a time. In concurrent estate, the right of parties to sell the property to others depends on the type of ownership. More Real Estate Definitons. Noun. The three most common kinds of concurrent estates are Joint Tenancy; Tenancy by the Entirety; and Tenancy in Common. Specifically, concurrency regulations require that local government has the capacity in stormwater, parks, solid waste, water, sewer and mass transit facilities to serve each proposed development. Previous Next. For a development to "be concurrent" or "meet concurrency" the local government must have enough infrastructure capacity to serve each proposed development. Co Ownership1 - Free download as Powerpoint Presentation (.ppt / .pptx), PDF File (.pdf), Text File (.txt) or view presentation slides online. Concurrent estates are going to be covered in this worksheet and quiz. Contrat d’agence. Legal definition for CONCURRENT ESTATE: Property with more than one owner. https://legal-dictionary.thefreedictionary.com/Concurrent+estate, Dictionary, Encyclopedia and Thesaurus - The Free Dictionary, the webmaster's page for free fun content, conditio si testator sine liberis decesserit, Concurrent Design Approach for Real-Time Systems, Concurrent Development, Integration, and Application of Knowledge, Concurrent Engineering Research and Applications, Concurrent Engineering Supportability Analysis, Concurrent Engineering/Integrated Product Development, Concurrent Manufacturing Planning and Shop Control. From P2P Foundation. If more than one person own the same property, they are referred to as co-owners, co-tenants or joint tenants. Estates in property, usually land, which run at the same time, often distinguished from successive estates, which run the one after the other. Concurrent exchange refers to a method of executing a tax deferred exchange (aka 1031 exchange or like-kind exchange) where the sale of the relinquished property and the acquisition of the replacement property close or transfer at the same time. Ownership or possession of real property by two or more individuals simultaneously. Most common law jurisdictions … Examples of concurrent estates are joint tenancy, tenancy by the entirety and tenancy in common. Definition from Wiktionary, the free dictionary. Concurrent Estates. For example, in a five-user concurrent use license, after five users are logged on to the program, the sixth user is prohibited. Related Terms: Joint Tenancy. They are: 1. Concurrent estate A concurrent estate or co-tenancy is a concept in property law which describes the various ways in which property is owned by more than one person at a time. Concurrent Estate Defined. Most common law jurisdictions recognize tenancies in common and joint tenancies, and some also recognize tenancies by the … Jump to navigation Jump to search. Definition of Concurrent estate. Also referred to as a simultaneous exchange. What does concurrent mean? Ownership or possession of real property by two or more individuals simultaneously. Concurrent estate definition. concurrent estate - definition and meaning Community A landed property, usually of considerable size. Jump to navigation Jump to search. The three most common kinds of concurrent estates are Joint Tenancy; Tenancy by the Entirety; and Tenancy in Common. Lexicographical Neighbors of Concurrent Estate. Concurrent legislative jurisdiction for purposes of criminal law enforcement means the joint power of the U.S. and the Commonwealth of Kentucky to enact and enforce their own criminal laws, including those pertaining to motor vehicle traffic control, over the lands in question. English Wiktionary. If more than one person owns the same property, they are commonly referred to as co-owners. Law a. co-ownership Learn more. Definition of Concurrent estate in the Medical Dictionary by The Free Dictionary Legal terminology for co-owners of real estate is either co-tenants or joint tenants, with the latter phrase signifying a right of survivorship. tion application of disinfective measures as soon as possible after discharge of infectious material from the body of an infected person, or after soiling of articles with such infectious discharges. The parties who own property jointly are referred to as co-tenants or joint tenants. Concurrent Exchange. 1. In concurrent estate, the right of parties to sell the property to others depends on the type of ownership. ( plural concurrent estates) (law) Any of various forms of ownership of property by more than one person at a time. Concurrent ownership, in real estate and property law, refers to a property that can be owned by more than one person at a given time. Ce Glossaire a été établi à partir des définitions du Glossaire des termes employés dans le domaine de la politique de concurrence de l’Union européenne (© Union européenne, 2002), du Glossaire d’économie industrielle et de droit de la concurrence (© OCDE, 1993) et des 50 mots de la concurrence (© Autorité de la concurrence, 2015). That means, for example, that if they sell the property, they’ll receive different fractional shares of the proceeds of th… Where more than one person owns a property the owners are referred as co-owners. Full Definition of Concurrent Estate A concurrent estate or co-tenancy is a concept in property law, particularly derived from the common law of real property, which describes the various ways in which property can be owned by more than one person at a given time. concurrent estate definition: the fact of property being owned by two or more people: . Search. You will also be able to identify the different types of concurrent estates using these tools. A concurrent estate or co-tenancy is a concept in property law which describes the various ways in which property is owned by more than one person at a time. An exchange of properties under section 1031 of the Internal Revenue Service Code that close (transfer) simultaneously. Previous Next. n. 1. English [] Noun []. The definition of concurrent is things that are happening at the same time. Most common law jurisdictions recognize tenancies in common and joint tenancies, and some also recognize tenancies by the … concurrent estate: Any of various forms of ownership of property by more than one person at a time. Definition of Concurrent estate in the Financial Dictionary - by Free online English dictionary and encyclopedia. Concurrent estate means a property is owned by more than one person at a time. A piece of real estate can be owned by just one person or legal entity, such as a corporation or limited partnership, or by many people or entities. Concurrent Estate. In property law, a concurrent estate or co-tenancy is any of various ways in which property is owned by more than one person at a time. concurrent estate définition, signification, ce qu'est concurrent estate: the fact of property being owned by two or more people: . If more than one person own the same property, they are referred to as co-owners, co-tenants or joint tenants. 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