In modern German legal parlance it corresponds to a "community of joint ownership" (Gesamthandsgemeinschaft or Gemeinschaft zur gesamten Hand).
Ganerbschafts arose as a result of the simultaneous nomination of several co-heirs to the same estate; this occurred mainly in the Middle Ages for reasons of family politics.
Although the initially very close community of co-heirs (Ganerben) tended to become looser over the decades, the unity of the estate to the outside world was maintained.
Following the Tierberg Feud of 1488 a burgfrieden treaty was agreed in 1493 that governed the joint management of the estate under a Gemeinschaftlichen Ganerben-Amts-Schultheißen ("Common Ganerben Office Sheriff").
Only Comburg Abbey was allowed, in 1717, to buy the share of the estate belonging to the lords of Stetten, because they had formerly been members of the Ganerbschaft.