A jointly owned dwelling refers to a property or house that is co-owned by two or more individuals. Also known as a shared ownership property, it is a popular method of property ownership for couples, family members, or friends who want to invest in a property and split the associated costs and responsibilities. Some synonyms for jointly owned dwelling include joint ownership property, co-owned property, shared ownership dwelling, or communal home. These terms all suggest a shared living situation where the property is owned and managed by multiple parties. Jointly owned dwellings are becoming increasingly popular as the cost of buying a property continues to rise, and many people seek ways to share the financial burden of homeownership. Whether it's a condo, townhouse, or a single-family home, the benefits of jointly owned dwellings are numerous.