joint ownership of property by two or more persons, without right of survivorship. This form of property ownership most often is used by partners in a business partnership, and by unrelated persons holding title to real property. Each party has an indivisible share of the property; when they die, their share is inheritable by their heirs, not by the other tenants. Also called tenants in common.
ownership of realty by two or more persons, each of whom has an undivided interest, without the right of survivorship. Upon the death of one of the owners, the ownership share of the decedent is inherited by the party or parties designated in the decedent's will.
an ownership of realty by 2 or more persons, each of whom has an undivided interest, without the right of survivorship. Upon the death of one of the owners, the ownership share of the decedent is inherited by the party or parties designated in the decedent's will. Compare with partition.
Example: A syndicate is formed using a tenancy in common. Under this arrangement all of the investors have to sign the deed for the entire property to be conveyed. Each tenant may convey his or her share independently.
