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Tenancy in common

Tenancy in common is concurrent ownership in which each co-owner holds an undivided interest without an automatic right of survivorship.

Direct answer

What does tenancy in common mean?

Tenancy in common is concurrent ownership in which each co-owner holds an undivided interest without an automatic right of survivorship.

Exam cue: In New York, a deed to two or more unmarried people creates a tenancy in common unless it expressly declares a joint tenancy. Shares may be unequal, and each interest passes through the owner's estate.

What does it look like in a question?

Example

Two investors own 70 percent and 30 percent interests in the same building.

Common exam trap

What should you not confuse it with?

Survivorship belongs to joint tenancy. When a tenant in common dies, that share passes by will or inheritance, not to the other co-owners.

Related property rights and title terms

DeedA deed is a written instrument used to transfer an interest in real property.EasementAn easement is a nonpossessory right to use another person's land for a stated purpose.EncroachmentAn encroachment is a physical improvement that crosses a property line or intrudes into another protected area.Fee simpleFee simple is the broadest private ownership estate, potentially lasting indefinitely and subject to government powers and private restrictions.FixtureA fixture is an item that began as personal property but is treated as part of the real property because of attachment, adaptation and intent.Joint tenancyJoint tenancy is concurrent ownership that includes a right of survivorship when it is properly created.
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