Tenancy In Common

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Tenancy In Common

Tenancy In Common means:
ownership of realty by two or more persons, each of whom has an undivided interest, without the right of survivorship. Upon the death of one of the owners, the ownership share of the decedent is inherited by the party or parties designated in the decedent's will.

See also other Tax Terms and Definitions in U.S.A.

joint tenancy.

Example of Tenancy In Common:

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A syndicate is formed using a tenancy in common. Under this arrangement, all the investors have to sign the deed in order for the entire property to be conveyed. Each tenant, however, may convey his or her share independently.

See Inheritance Tax and Inheritance Tax.

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