Tenancy in common only requires one unity—the unity of possession. Each tenant in common has the right to possess and use the entire property regardless of their ownership percentage. Shares can be unequal (e.g., one owner holds 60% and another holds 40%). Each owner can sell, lease, mortgage, or will their individual interest without the consent of the other owners. When a tenant in common dies, their interest passes to their heirs through probate, not to the other co-owners.
Two investors purchase a rental property as tenants in common. Investor A owns 70% and Investor B owns 30%. When Investor A dies, their 70% interest passes to their children through probate, not to Investor B. Investor B retains their 30% interest.
Tenancy in common is the DEFAULT form of co-ownership when the deed does not specify. There is NO right of survivorship—interests pass through probate. Shares can be UNEQUAL. Any tenant can sell or will their share independently. This is the most flexible form of co-ownership.
Related Terms
Related Concepts
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
A freehold estate represents ownership of real property with an indefinite duration.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
Frequently Asked Questions
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