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What Does Tenants in Common Mean?Navigation: Home > Legal Questions >What Does Tenants in Common Mean?
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Tenants in common are co-owners of property. In a tenants in common situation, each tenant owns a portion of the property, but both tenants have a right to possess the entire property. For instance, if there are three tenants in common, each tenant owns 33 percent of the property, but each tenant also can use the entire property. In this case, one tenant can sell his or her share of the property (or designate it to a beneficiary in a will), and although the buyer or beneficiary owns only 33 percent of the property, he or she has the right to use it all. |
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