1012. Joint use or enjoyment of settled property.

Where a person entitled to an interest in possession is not entitled to any income of the property but is entitled, jointly or in common with one or more other persons, to the use and enjoyment of the property, his interest is taken as subsisting in such part of the property as corresponds to the proportion which the annual value of his interest bears to the aggregate of the annual values of his interest and that or those of the other or others