What is "tenancy in common"?

Tenancy in common is a legal concept that refers specifically to a form of co-ownership in which two or more individuals hold title to a property, each owning an individual, undivided interest in the whole property. This means that while each co-owner has a distinct share, there is no physical division of the property among the owners, and each owner has the right to use the entire property. The interests of the owners can be equal or unequal; for example, one owner might have a 60% share while another might have a 40% share.

This structure allows for flexibility in ownership and the ability for owners to independently transfer their share to someone else without the need for consent from the other owners. Each owner’s share can be inherited, further distinguishing tenancy in common from joint tenancy, which has rights of survivorship.

The nature of tenancy in common is particularly important in legal and real estate contexts, as it defines the rights and responsibilities of co-owners in property management, partitioning, and inheritance matters.