Tenancy in Common
/ˈtɛnənsi ɪn ˈkɒmən/
Definitions
- (n.) A form of concurrent property ownership whereby two or more persons hold undivided interests in the same property without rights of survivorship, allowing each owner to transfer their share independently.
The siblings held the family home as tenants in common, each owning an equal portion.
Forms
- tenancies in common
Related terms
Commentary
Tenancy in common contrasts with joint tenancy primarily by lacking the right of survivorship; attention should be given to drafting instruments to clarify intent regarding survivorship and transferability.
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