Definitions for "Tenants in Common"
An agreement between purchaser where in the event of either death the value of that person's share in the property is paid to their estate, not the surviving person. This is generally considered where couples are not married or where a purchase is made jointly to take advantage of both parties income where otherwise there is no relationship.
Joint ownership of property where each joint tenant owns a separate share in the property. On the death of one of the joint owners, their share passes to their beneficiaries by their will or intestacy. There is more on joint property in the Customer Guide to IHT.
the equal or unequal holding of property by two or more persons. If one party dies the share of the property forms part of the estate rather than passing to the other tennant / tennants.
Effectively a partnership account in which each tenant has a divisible interest.
One or more people entitled to occupy, or own land in common with others. Whereby each owns a separate and divisible part of a whole. Each person may leave his or her share to someone else in a will.
Keywords:  tender, offer
Tender Offer