Joint Property definition

Joint Property means property that is owned by 2 or more persons with rights of survivorship, and includes a tenancy by the entireties in real property, a tenancy in personal property as provided in section 1 of 1927 PA 212, MCL 557.151, a joint tenancy, a joint tenancy with rights of survivorship, and a joint life estate with contingent remainder in fee. For purposes of this part, joint property is considered to consist of a present interest and a future interest. The future interest is the right of survivorship.

Joint Property means all property acquired and held for use in connection with operations under this Participation Agreement;

Joint Property means, at any point in time, all xxxxx, facilities, equipment, materials, information, funds and the property held for use in Joint Operations.

Examples of Joint Property in a sentence

• Costs incurred for abandonment of the Joint Property, including costs required by governmental or other regulatory authority.

• Special inventories may be taken whenever there is any sale, change of interest, or change of Operator in the Joint Property.

• Material purchased or furnished by Operator for use on the Joint Property as provided under Section IV.

• All taxes of every kind and nature assessed or levied upon or in connection with the Joint Property, the operation thereof, or the production therefrom, and which taxes have been paid by the Operator for the benefit of the Parties.

• The cost of professional consultant services and contract services of technical personnel directly engaged on the Joint Property if such charges are excluded from the overhead rates.

More Definitions of Joint Property

Joint Property means the real and personal property subject to the agreement to which this Accounting Procedure is attached.

Joint Property means all property where legal title is acquired and held in connection with Petroleum Operations under the Contract;

Joint Property means the real and personal property subject to the Agreement to which this Accounting Procedure is attached.

Joint Property means all assets of any nature whatsoever, the cost of which is chargeable to the Joint Account and shall include, but not be limited to, buildings, lands, material, equipment and fixtures acquired for the purposes hereof and other rights and all Joint Account funds.

Joint Property means equipment acquired for the Joint Operations and fixed property subordinated the Joint Operating Agreement.

Joint Property means the real and personal property subject to the Agreement.

Joint Property means the real and personal property acquired and held for use in connection with operations under the Agreement.