Tenancy in Common

A Tenancy in Common is created when two or more people take title and tenants in common is specified or no other form of ownership is mentioned.

 

•Tenants in common have Unity of Possession

•The Interest of each tenant may be unequal

 

A tenant in common may transfer his/her interest by gift, sale, or will without permission of the other tenants

 

•The new tenant has the same rights and privileges that the grantor had

•The new tenant is a tenant in common with the old tenants

•A tenancy in common is most often created when parents die and leave real property to their children

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