tenancy in common

Definition

Co-ownership where each party owns a specific percentage share that can be sold or willed independently, without right of survivorship. The 'we own this together but I want out of this relationship' ownership structure.

Example Usage

As tenants in common with a 60/40 split, she owned 60% and could sell her share without his consent, unlike joint tenancy.

Origin

English common law property ownership form dating to medieval land tenure

Fun Fact

Tenancy in common is the default co-ownership form in most states unless you specifically request joint tenancy—meaning many co-owners accidentally choose it.

Source: Common law property ownership documentation

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