Tenancy in common
National Real Estate Exam glossary · Property Ownership
Definition
A form of co-ownership in which two or more persons hold undivided interests—possibly unequal—with no right of survivorship. On a co-tenant's death, that share passes to the decedent's heirs or devisees, not to the surviving co-owners. It is the default form of co-ownership where intent is unclear.
Tenancy in common in plain English
Tenancy in common is when two or more people co-own a property, each holding a percentage that can be uneven — maybe you own 70% and I own 30% — but nobody has a claimed 'room'; you each share the whole place. The key twist: there's no automatic hand-off when someone dies. If a co-owner passes away, their slice goes to whoever they named in their will or to their family, NOT to the other co-owners. It's also the law's default guess: if people buy together and don't spell out what kind of ownership they want, the courts assume this one.
Learn these first
Practice Tenancy in common
Related National Real Estate Exam terms
National Real Estate Exam practice questions · National Real Estate Exam flashcards · National Real Estate Exam study guide