What defines tenants in common?

Tenants in common is a form of ownership where two or more individuals hold title to a property, and one of the defining characteristics of this arrangement is that ownership interests can indeed differ among the co-owners. This means that one co-owner may own a larger or a smaller share of the property compared to the others. For example, one person could own 70% of the property while another owns 30%, or shares could even be divided in finer increments.

This flexibility in ownership shares allows for diverse investment opportunities and arrangements among co-owners, making tenants in common a popular choice, particularly for real estate investments or family property arrangements. It contrasts with joint tenancy, where each owner must hold an equal share in the property.

This distinction emphasizes the unique nature of tenants in common, highlighting its appeal for scenarios where individuals might contribute different amounts to the purchase or have varying interests in the property’s use.