Which statement describes Tenants in Common?

Which statement describes Tenants in Common?

• A. Each co-owner has a distinct share and may transfer their share
• B. They must all have equal shares by law
• C. They hold the whole property jointly with survivorship
• D. They have no rights to sell their share

Answer: (A)

Tenants in Common means each person holds a separate, identifiable share in the property. Those shares can be equal or unequal, and every co-owner can deal with their own share—sell it, mortgage it, or leave it to someone in a will. Crucially, there is no right of survivorship, so when one owner dies their share passes to their estate, not to the other co-owners. This combination of distinct, transferably owned shares best fits the statement that each co-owner has a distinct share and may transfer their share. The other ideas describe joint tenancy features (survivorship where the deceased’s share goes to the remaining owners) or incorrect notions about equal shares or selling restrictions, which do not apply to Tenants in Common.

Tenants in Common means each person holds a separate, identifiable share in the property. Those shares can be equal or unequal, and every co-owner can deal with their own share—sell it, mortgage it, or leave it to someone in a will. Crucially, there is no right of survivorship, so when one owner dies their share passes to their estate, not to the other co-owners. This combination of distinct, transferably owned shares best fits the statement that each co-owner has a distinct share and may transfer their share.

The other ideas describe joint tenancy features (survivorship where the deceased’s share goes to the remaining owners) or incorrect notions about equal shares or selling restrictions, which do not apply to Tenants in Common.