What term describes the ownership of real property by two or more persons?

The term that describes the ownership of real property by two or more persons is co-ownership. This concept captures the general idea of multiple individuals jointly holding title to a property, without specifying the particular legal arrangement or structure they use to achieve this ownership.

Co-ownership can manifest in different forms, such as joint tenancy and tenancy in common, which provide specific rights and responsibilities related to the property. Joint tenancy, for instance, includes the right of survivorship, meaning that if one tenant dies, their share automatically passes to the surviving tenant(s). On the other hand, tenancy in common allows each owner to have a distinct share of the property that can be transferred to heirs or sold independently, without any rights of survivorship.

Allodial ownership refers to a system where land is owned outright without obligation to any superior authority, which is not applicable in the context of multiple owners sharing the title of real property. Thus, co-ownership encompasses various arrangements for shared ownership and is the broadest and most accurate term for the situation described.