Under Colorado law, which of the following best describes the ownership structure known as 'tenancy in common'?
Correct Answer
A) Each co-owner holds an undivided interest in the property with no right of survivorship
Under Colorado law, tenancy in common is a form of co-ownership where each owner holds an undivided interest in the entire property. Interests need not be equal, and there is no right of survivorship — upon death, a co-owner's interest passes through their estate, not automatically to surviving co-owners. This is consistent with Colorado's application of common law property principles.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
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.
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