Tenants in common

Tenants in common are individuals who share ownership of a property, and this arrangement can include any number of people, from just two to hundreds. Unlike joint tenancy, tenants in common can hold unequal shares of the property; for example, one person might own 50% while others own 25% each. This form of ownership does not require the co-owners to be related. When one tenant in common passes away, their share does not automatically go to the surviving co-owners. Instead, it is transferred according to the deceased’s will or estate plan, allowing for flexibility in how the property is inherited. Each tenant in common can occupy the property, but they cannot exclude others from their share. This setup provides a versatile and customizable approach to property ownership, accommodating various personal and financial situations.