What is a tenancy in common?
Tenancy in common (TIC) is a form of property ownership where two or more people own a property together, but each owner holds a separate and transferable share. Ownership percentages may be equal or unequal.
Key Features of Tenancy in Common
- Multiple owners share ownership rights in the same property
- Ownership shares can be equal or unequal
- No automatic transfer of ownership to surviving co-owners
- Each owner can sell, transfer, or will their share independently
Example of Tenancy in Common
Three investors jointly own a commercial property with different ownership shares:
- Investor A owns 50%
- Investor B owns 30%
- Investor C owns 20%
Each investor holds separate legal ownership rights and can manage or transfer their share independently.
Tenancy in common provides flexible shared ownership in real estate. It is commonly used for investment properties and family-owned assets where owners want independent ownership rights.
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