Joint ownership of property does not in and of itself creates a partnership.

Question

Quizplus · Accepted Answer

Joint ownership of property simply means that two or more individuals have a shared ownership interest in the property. It does not necessarily mean that they have entered into a partnership. A partnership involves a business relationship where two or more individuals agree to collaborate on a joint venture for profit, while joint ownership of property can exist for various reasons outside of business purposes.

Joint Ownership of Property Does Not in and of Itself