Explanations
For individuals to hold real property as tenants in common, they must hold undivided interests in the property. Tenancy in common is a form of co-ownership involving two or more individuals. A key characteristic of this arrangement is the “unity of possession,” which means each co-owner has the right to possess the entire property, rather than a specific, divided portion. For example, one co-tenant cannot restrict another’s use of the property area.
Unlike joint tenancy, tenancy in common does not require the co-owners to hold equal interests; a mother and son might each hold 40% interest, while a daughter holds 20%. Furthermore, being husband and wife is not a requirement, as tenancy in common can be held by any two or more people, distinguishing it from “community property” which is specific to married couples. While “unity of possession” is essential, it refers to the right itself, not a prerequisite for “arranging” possession.

Leave a Reply
You must be logged in to post a comment.