Tenants in common
A tenancy in common is a form of co-ownership. It is the ownership of an asset
by two or more individuals together, but without the rights of survivorship that
are found in a joint tenancy. Thus, on the death of one co-owner, his or her
interest will not pass to the surviving owner or owners but will pass according
to his or her will or, if there is no will, by the law determining heirs.
Tenants in common normally requires a defined level of ownership for example,
50/50 or 75/25 whichever is applicable.