This section is from the book "Popular Law Library Vol5 Sales, Personal Property, Bailments, Carriers, Patents, Copyrights", by Albert H. Putney. Also available from Amazon: Popular Law-Dictionary.
Joint ownership in its broadest sense, includes all cases where two or more persons have a common interest in the ownership of property. In this sense it includes both joint tenancy and ownership in common. In the case of joint tenancy there must exist the four unites of time, title, interest, and possession. In the case of ownership in common, only unity of possession is necessary.1
The principle incidents of ownership of personal property in common have been summed up as follows:
First. The possession of one is the possession of all, and all are equally entitled to possession.
Second. One cannot maintain an action against his co-tenant to recover possession of the common property; but he may have an action of tort against him for its conversion or destruction.
Third. The interest of one is subject to levy and sale by execution for his debts; but if the officer sells the whole property, and not merely the interest of the judgment debtor, he will be liable to an action by the other co-owner for his undivided interest.
1 For a more thorough discussion of joint tenancies and estates in common, see subject of Real Property, Vol. IV, Sub. 17., Fourth. One owner in common of chattels may-recover from another any money properly expended on it beyond his due proportion; but there must have been a previous request to join in making the necessary repairs, unless there exist some agreement or prescription binding either party exclusively to make repairs.
Fifth. Where personal property in common bulk and of the same quality, severable in its nature, is owned by two or more persons in common, each may sever and appropriate his share if it can be determined by measurement or weight, without the consent of the others, and without liability to an action for the conversion of the common property.
Sixth. Owners in common of personal property may maintain a suit in equity for partition; and in case a division be impracticable they may have a decree for the sale of the common property, and a division of the proceeds.
 
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