Joint ownership legal framework defines rights, responsibilities, and exit mechanisms for co-owners, crucial for investment partnerships and family arrangements.

Rights: Equal usage rights, profit sharing, decision making, information access. Responsibilities: Joint loan liability, maintenance costs, tax obligations, legal compliance. Exit mechanisms: Mutual agreement sale, partition suit, buy-out arrangement, third-party sale.

Legal provisions: Transfer of Property Act, Partition Act, Income Tax Act, RERA compliance. Tax implications: Joint deduction benefits, capital gains sharing, wealth tax considerations. Dispute resolution: Mediation, arbitration, legal recourse. Documentation: Clear ownership agreement, exit clauses, succession planning. Keywords: joint ownership rights, co-owner responsibilities, exit mechanisms.