undivided interest

undivided interest definition - business

undivided interest

Complete or partial ownership of the entirety of an asset such that claims of co-owners cannot be separated. For example, an individual may hold a 25% undivided interest in a vacation home. The owner has the right to three months' use (25% of the year) of the home. Undivided interest of real property donated to a charity qualifies for a tax deduction.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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