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 the real and personal property subject to the agreement to which this Accounting Procedure is attached.
Examples of Joint Property in a sentence
Costs incurred for abandonment of the Joint Property, including costs required by governmental or other regulatory authority.
The amount of the money would be upwardly revised based on volume of business.
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 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 (subject always to the provisions of Article 15.3 below), funds and property (other than Hydrocarbons) held for use in Joint Operations.
Joint Property means all property where legal title is acquired and held in connection with Petroleum Operations under the Contract;
Joint Property means equipment acquired for the Joint Operations and fixed property subordinated the Joint Operating Agreement.
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, at any point in time, all xxxxx, facilities, equipment, materials, information, funds and the property held for use in Joint Operations.
Joint Property means the real and personal property subject to the Agreement.