What type of ownership means two or more people share ownership of a property?

The term that accurately describes a situation in which two or more people share ownership of a property is concurrent ownership. This concept encompasses various forms of ownership arrangements among multiple parties, including joint tenancy and tenancy in common. In these arrangements, each owner has an undivided interest in the property, meaning they can use and benefit from the property as a whole, regardless of their individual shares.

Concurrent ownership is essential in real estate as it allows for shared investments and the benefits of property ownership among multiple individuals. This is particularly useful for families, friends, or business partners looking to co-invest in property. Understanding this concept is vital for navigating various ownership structures in real estate transactions.

While other terms like joint ownership or fractional ownership may imply shared interests, they represent more specific forms or scenarios within the broader category of concurrent ownership. Sole ownership, on the other hand, denotes a single individual's exclusive ownership of the property, which does not fit the context of the question.