Related Definitions
What is Tenancy in Common?
A form of co-ownership where two or more people hold ownership interests in a property. Upon the death of one owner, their share passes to their heirs, not the other co-owners.
A form of co-ownership of real property in which two or more individuals hold an undivided interest in the property. Each tenant in common has the right to possess the entire property, and ownership does not have to be equal among the co-owners. Upon the death of a tenant in common, their share passes according to their will or intestacy laws, rather than automatically transferring to the other co-owners, as is the case in joint tenancy.
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