A and B are joint owner of a house. They rent it out of C and divide the net rent equally. A & B are ________.

Partners

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Co-owners

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Principal & agent

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Consignor & Consignee

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Solution

The correct option is B Co-owners
Co-ownership refers to the division of ownership of something into two or more heads and working some business out of it to achieve common goals. This act can be passed through an agreement between the co-owners or even it can be done through the operation of law which will be bound on all the co-owners.

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