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Keywords:Orthogonal polynomials on the real line Co-polynomials on the real line Zeros Transfer matricesIn this paper, we study new algebraic and analytic aspects of orthogonal polynomials on the real line when finite modifications of the recurrence coefficients, the socalled co-polynomials on the real line, are considered. We investigate the behavior of their zeros, mainly interlacing and monotonicity properties. Furthermore, using a transfer matrix approach we obtain new structural relations, combining theoretical and computational advantages. Finally, a connection with the theory of orthogonal polynomials on the unit circle is pointed out.