This article describes the differences between Sole Ownership and Co-Ownership.
Sole Ownership
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Meaning: Sole ownership means single ownership at a time.
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All individual ownership is the examples of sole ownership. When right of ownership is vested exclusively in one person, it is called sole ownership.
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By combining two or more sole ownerships, a co-ownership may be formed.
Co-Ownership (Duplicate Ownership
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Meaning: co-ownership means the property owned by two or more persons at a time.
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All partnership firms / business are the examples of co-ownership.
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Co-ownership may be dissolved and may form two or more sole ownerships by a process of partition.