tenancy in common

Definition

Joint-ownership of property by two or more related or unrelated entities (co-tenants) in equal or unequal shares. Each co-tenant's share is undivided: no co-tenant has exclusive right to any portion of the property and each has equal right to possess the whole property. Unlike in a joint-tenancy, no co-tenant has right of survivorship: the share of a deceased co-tenant passes on to his or her heir (or as willed) and not to the surviving co-tenant(s). All decisions to develop, mortgage, sell, or use the property may only be made collectively by all co-tenants. Any co-tenant (or his or her creditor), however, may petition the courts to partition the property in settlement of a claim. See also undivided interest.

Use 'tenancy in common' in a Sentence

After the two friends fought for months all that they had in the end was tenancy in common and neither had exclusive rights over the property.

The tenancy in common was interesting and I knew we would have a good time living together in the future.

It is important that you have a good relationship with anyone that you share a tenancy in common with at all times.

单词	tenancy in common
释义	tenancy in common Definition Joint-ownership of property by two or more related or unrelated entities (co-tenants) in equal or unequal shares. Each co-tenant's share is undivided: no co-tenant has exclusive right to any portion of the property and each has equal right to possess the whole property. Unlike in a joint-tenancy, no co-tenant has right of survivorship: the share of a deceased co-tenant passes on to his or her heir (or as willed) and not to the surviving co-tenant(s). All decisions to develop, mortgage, sell, or use the property may only be made collectively by all co-tenants. Any co-tenant (or his or her creditor), however, may petition the courts to partition the property in settlement of a claim. See also undivided interest. Use 'tenancy in common' in a Sentence After the two friends fought for months all that they had in the end was tenancy in common and neither had exclusive rights over the property. The tenancy in common was interesting and I knew we would have a good time living together in the future. It is important that you have a good relationship with anyone that you share a tenancy in common with at all times.
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