Tenancy In Common
When two parties own real property concurrently with no right of survivorship such that when one dies, his or her interest in the property passes through his or her estate and not to the surviving co-owner.
- Example : Mary and Peggy graduate law school and decide to purchase a house together. They take title to the house as Tenants In Common. One year later, Mary passes away. Mary’s interest in the property passed through her estate to her brother, Rob. Rob and Peggy are now Tenants In Common.