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Trust Glossary

Undivided Interest - The interest in property held by each co-owner of jointly held property. Each tenant has equal right to use entire property and, unless an agreement to the contrary exists, is entitled to an income share proportional to his or her ownership interest. If the property is sold, proceeds are shared among tenants in proportion to their respective ownership shares, although unequal share ownership is not possible in a joint tenancy.


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The content in this glossary is general in nature and is intended for informational purposes only. It is not intended to provide specific advice or recommendations for any individual or organization, because the facts and circumstances surrounding each situation differ. Please consult your attorney, tax advisor or other professional advisor for advice on your particular situation.






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