Difference between revisions of "Tenancy in common"
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Other forms of property ownership are [[joint tenancy]] and [[tenancy by the entirety]]. | Other forms of property ownership are [[joint tenancy]] and [[tenancy by the entirety]]. | ||
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Revision as of 21:11, May 8, 2008
Tenancy in common is a form of property ownership in which several persons acquire property together and shares in its use or rents. Each can sell or convey his interest separately from the other owners. Each has a right to use the entire property. There is no right of survivorship, i.e., other tenants do not automatically obtain their co-tenant's interest when he passes away.
Other forms of property ownership are joint tenancy and tenancy by the entirety.
