Concepts Definitions

• Tenancy in Common: A type of co-ownership in real property involving two or more people. Its defining characteristic is “unity of possession,” meaning all co-tenants have the right to possess the entire property. It does not include the right of survivorship, and co-owners are not required to hold equal interests.
• Undivided Interests: In tenancy in common, each owner holds an interest in the entire property rather than having a specific, separate part of it.
• Unity of Possession: A core element of tenancy in common, granting each co-owner the right to occupy and use the entire property without being restricted by other co-owners regarding the area used.
• Joint Tenancy: A form of co-ownership that requires four unities—time, title, interest, and possession (TTIP)—and includes the right of survivorship, meaning the deceased co-owner’s interest passes to the surviving co-owners without probate. Equal interests are required for joint tenancy.
• Community Property: A specific form of co-ownership for legally married individuals, where property acquired during the marriage is considered jointly owned.

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