IPA: //pɑːrˈsɛnəri//
KK: /pɑrˈsɛnəri/
A legal term referring to a situation where two or more people share ownership of a property or inheritance, typically as joint heirs.
The siblings entered into a parcenary to manage their inherited family estate together.
Parcenary is derived from the Old French word 'parcenarie', which comes from 'parcener' (meaning to share or divide). The term refers to a person who shares in a common inheritance or property. The word combines the idea of sharing with the context of inheritance.
Think of someone who 'shares' ('parcener') in an inheritance or property — that's what parcenary means.