California Civil Code 686 – Every interest created in favor of several persons in their own right …
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Every interest created in favor of several persons in their own right is an interest in common, unless acquired by them in partnership, for partnership purposes, or unless declared in its creation to be a joint interest, as provided in Section 683, or unless acquired as community property.
(Enacted 1872.)
Terms Used In California Civil Code 686
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- property: includes property real and personal. See California Civil Code 14