Co-ownership of property. In a valid tenancy-in-common, a deceased co-owner's title passes to his or her heirs without being included in the estate of the deceased co-owner.
a form of ownership where each co-owner holds a separate and definite share in the property
A form of joint ownership in which two or more person’s own interest in the same property. At the death of a tenant-in-common, ownership transfers to that person’s designated beneficiaries or heirs, not to the other joint owner(s).
A form of joint ownership involving two or more persons. Upon the death of a tenant-in-common, ownership transfers to the designated beneficiaries or heirs, not to the remaining joint owner(s).
Tenancy-in-common is probably the best way for unmarried co-owners to take title to a home (except for those unmarried co-owners who are involved in close, long-term relationships - see joint tenancy). Co-owners do not need to own equal shares of the property that is held as a tenancy-in-common. A tenancy-in-common also does not provide for the right of survivorship that automatically passes the deceased partner's ownership to the survivor without probate. The deceased's share of the property involved in a tenancy-in-common passes to the person named to receive that share of the property in the deceased's will or living trust.
A form of joint ownership in which a deceased tenant's share passes to his/her heirs or beneficiaries through his/her estate under the terms of a Will or in accordance with the laws of intestate succession in the absence of a Will (Contrast with Joint Tenancy).
As opposed to joint tenancy, when there are two or more individuals own title to a piece of property, this type of ownership does not pass ownership to the others in the event of death.
a form of shared ownership of property by two or more persons where upon the death of one of the owners, the surviving owner or owners have no rights in the deceased owner's interests in the property. The deceased owner's interest passes as part of his or her estate.
A form of joint ownership in which two or more persons own the same property in shares; at death of a tenant-in-common, ownership transfers to that person's heirs, not to the other owner; different from joint ownership/joint tenancy (see above).
Concurrent ownership such that all owners distinct but undivided shares in the some property. There is no right of survivorship.
Ownership of land by two or more persons; unlike joint tenancy in that interest of deceased does not pass to the survivor, but is treated as an asset of the deceased's estate.
