In Michigan, when real property is owned by multiple owners, those owners are called co-tenants. Under this method of ownership, each co-tenant has a right to possess all of the property and no co-tenant has the right to an exclusive part of the property. This system has certain rights, privileges, and duties owed to the other co-tenants and the property, including: (1) right to rent and profits; (2) expenses associated with the property; and (3) the duty of fair dealing.

Rents.
Co-tenants out of possession of the property has a right to share in rents from third parties, including profits obtained from the collection of resources. There is a potential right from co-tenants to collect rents from agreements between the other co-tenants and lease agreements.

Expenses.
Each co-tenant, if required by reason and justice, must contribute his or her proportionate share of costs associated with the preservation of the property. A co-tenant who pays more than his or her share of the expense of pay for necessary repairs may seek contribution from co-tenants. The modern theory here is that, since the repair is necessary to maintain the quality of the property, and all co-tenants benefit from that value, that they all should pay. This also applies to Taxes owed to the governmental authority in the locality. Each co-tenant has a duty to pay his or her portion of taxes due on the entire property; generally this is irrespective of possession. Each paying co-tenant may compel the non-paying co-tenants to contribute in these expenses (including taxes and mortgages).

Fair Dealing.
Each co-tenant acting alone, is generally deemed to be acting on behalf of all co-tenants in relation to the property. Each co-tenant must act fairly in all transactions, whether in sale or adverse possession.

When choosing to own property with several other people, consider carefully the method of mutual ownership. Form an agreement with the other co-tenants if necessary, and always consult with an attorney before executing a deed with particular transfer information on it; there are potentially negative and irreversible consequences to transferring property with the wrong conveyance terms.