In Arkansas, tenancy in common is best described as a form of co-ownership in which each co-owner holds:
Correct Answer
B) A separate and undivided interest that may be unequal and passes to heirs upon death
Under Arkansas law, tenants in common each hold a separate, undivided interest in the whole property. These interests can be unequal (e.g., one owner holds 60% and another holds 40%), and upon a tenant's death, that interest passes to the owner's heirs or devisees through the estate — there is no right of survivorship. This is the default form of co-ownership in Arkansas when a deed conveys property to multiple persons without specifying joint tenancy.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.
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.
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.
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