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Undivided Interest Subdivision

DEFINITION

Property without exclusive use rights.

EXPLANATION

An undivided interest subdivision refers to when individual owners hold undivided interest in a property and maintain a non-exclusive right to use or occupy that property.

An example is a recreational vehicle park.

Usually undivided interest subdivisions are tenants in common. Each tenant holds the same rights to occupy space as the others. Examples of an undivided interest subdivision can include camp grounds or a recreational vehicle park which each tenant has the right to use.

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