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What are the differences between Sole Ownership and Co-Ownership?

This article describes the differences between Sole Ownership and Co-Ownership.

Sole Ownership

  1. Meaning: Sole ownership means single ownership at a time.
  2. Business Entity « Living within your Harvest

    Image Source: livingwithinyourharvest.files.wordpress.com/2011/11/sole-prop.jpg

    All individual ownership is the examples of sole ownership. When right of ownership is vested exclusively in one person, it is called sole ownership.

  3. By combining two or more sole ownerships, a co-ownership may be formed.

Co-Ownership (Duplicate Ownership

  1. Meaning: co-ownership means the property owned by two or more persons at a time.
  2. All partnership firms / business are the examples of co-ownership.
  3. Co-ownership may be dissolved and may form two or more sole ownerships by a process of partition.
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