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TeachMeFinance.com - explain joint ownership joint ownership -- a general term describing ownership by two or more parties. historic accounting definition (British)... joint ownership -- Ownership which is held by two or more persons. The most familiar instances of such ownership are joint tenancy and tenancy in common Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.