Reportedly, yours and my time (4)
I believe the answer is:
hour
'time' is the definition.
(unit of time)
'reportedly yours and my' is the wordplay.
'reportedly' shows a homophone (sound like).
'yours and my' becomes 'our' (I've seen this before).
'our' is a homophone of 'HOUR'.
(Other definitions for hour that I've seen before include "3,600 seconds" , "Part of day" , "Length of time" , "Time within day" , "(Period of) time" .)