Tenancy in common is a form of property ownership where two or more individuals hold undivided interests in the same property. Each co-owner has the right to use and occupy the entire property, regardless of their ownership percentage, and can transfer or sell their share independently. Unlike joint tenancy, tenants in common do not have rights of survivorship, meaning that if one owner passes away, their share of the property passes to their heirs or beneficiaries rather than to the other co-owners. Tenancy in common is a common arrangement for individuals who want to co-own property while retaining flexibility in managing and transferring their interests.
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This glossary post was last updated: 29th March, 2024.
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