Tenancy in Common
Definition
Tenancy in common is a form of co-ownership in which two or more persons hold separate, undivided interests in property without the right of survivorship. Each owner can hold unequal shares and can independently transfer their interest.
Example
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.
Exam Tip
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 Ownership Terms
Bundle of Rights
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.
Freehold Estate
A freehold estate represents ownership of real property with an indefinite duration.
Leasehold Estate
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
Life Estate
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Water Rights: Riparian and Littoral
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
Real Property vs. Personal Property
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
Frequently Asked Questions
Test Your Ownership Knowledge
Practice with exam-style questions to make sure you can apply Tenancy in Common and other ownership concepts.