What term refers to two or more people owning property at the same time?

The term that refers to two or more people owning property at the same time is "Concurrent Estates." This legal concept encompasses various forms of property ownership where multiple parties hold an interest in the same property. It includes several types of ownership arrangements, such as joint tenancy, tenancy in common, and tenancy by the entirety.

Concurrent estates are significant in real estate because they determine how property rights are shared, how decisions regarding the property are made, and what happens upon the death of one of the owners. Each type of concurrent estate offers different rights and obligations among the co-owners, influencing how they can use or transfer their interests in the property.

In contrast, the other terms mentioned represent different or more specific concepts. "Joint Ownership" is a broader term that can imply concurrent ownership but may not encompass all forms. "Fractional Ownership" typically refers to a shared ownership model where individuals own a percentage of property, often in a business context. "Absolute Ownership" denotes complete ownership of property without any limitations or shared interests, which does not apply when multiple parties hold concurrent interests. Understanding these distinctions helps clarify the nuances of property ownership laws and rights.