A tenancy in common in South Dakota differs from joint tenancy because tenants in common:
Correct Answer
C) May own unequal shares and have no right of survivorship
Tenants in common may own unequal shares of the property and do not have a right of survivorship. When a tenant in common dies, their share passes to their heirs or beneficiaries through probate, not to the other co-owners.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
Community property is a system where property acquired during a marriage is owned equally by both spouses.
A freehold estate represents ownership of real property with an indefinite duration.
Joint tenancy is a form of co-ownership in which two or more persons hold equal, undivided interests in property with the right of survivorship. When one joint tenant dies, their interest automatically passes to the surviving joint tenants.
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