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investors in a house

What Is Tenancy in Common?

If you're considering a way to purchase a piece of property with other investors but don't want to form an LLC, this type of ownership is likely your best option.

[Updated: Apr 29, 2021 ] Sep 30, 2020 by Lena Katz
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Tenancy in Common Joint Tenancy
  • Can be created or modified whenever.
  • One co-tenant is able to mortgage their share independently of others.
  • Co-owners aka tenants can own different size shares/interests in the real property.
  • Shares are transferred to specified heirs once a tenant dies.
  • All tenants have equal/same percentage of ownership.
  • All tenants receive interest at the time the concurrent ownership is created.
  • The same deed establishes co-ownership to all owners.
  • Gives the other surviving owner(s) the right to inherit the share of a deceased owner.