What is Tenancy in Common?
Tenancy in common is co-ownership where each owner holds a share (which can be unequal) and can sell or will their portion independently, with no automatic right of survivorship. When an owner dies, their share passes to their heirs, not the other owners. It suits unrelated co-buyers or investors.
Example: Three investors buy a property as tenants in common with different ownership percentages, and each can sell or bequeath their own share separately.