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Legal

Tenancy in Common

Definition

Co-ownership in which each owner holds a separate, possibly unequal share that passes by will.

Example

The three siblings held the inherited property as tenants in common in unequal shares.

Frequently asked questions

What does Tenancy in Common mean in real estate?

Co-ownership in which each owner holds a separate, possibly unequal share that passes by will.

How is Tenancy in Common used in practice?

The three siblings held the inherited property as tenants in common in unequal shares.

This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.