In Louisiana, which form of ownership is referred to as ownership in-division?

• A. Tenancy in Common
• B. Co-Ownership
• C. Condominiums
• D. Homestead Exemption

Answer: (B)

The term ownership in-division refers to co-ownership held in indivision, which is how Louisiana describes when multiple people own a property together without dividing it into separately owned parcels. In this setup, each owner has an undivided interest in the whole property and can use and enjoy it, even though their exact share is defined. A partition can be sought to divide the property physically or by sale and distribution of proceeds, but until that happens, the property remains in indivision. This makes it the best fit for the concept being tested, since condominiums involve separate units with shared common elements, homestead exemption is about protection of a primary residence from certain creditors, and tenancy in common is a term more common in other jurisdictions. In Louisiana, the familiar form for multiple owners is co-ownership in indivision.