Tenants In Common

Joint ownership through tenants in common occurs most commonly with a partnership in commercial property. The owners of each portion keep their property through death. This is different form joint tenancy where if one of the owners dies, their share of the property is spread across the remaining owners. However, tenancy in common can be achieved through joint tenancy. If in a joint tenancy, an individual sells their portion of the property, the new owner's rights to the property will be governed by tenants in common rather than joint tenancy.

Fast Facts

  • Mortgages on the property may be made without consent from the other owners.
  • A right to partition exists, where any member may exclude their portion of property by a court ordered partition.

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