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Real Property • Concurrent Estates
PROP#053
Legal Definition
A tenancy in common is a shared tenancy in which each holder has a distinct, separately transferable interest. Both tenants are entitled to possession of the whole. Their interests are alienable, devisable, and inheritable. In cases of a conveyance to multiple grantees, a tenancy in common is presumed.
Plain English Explanation
A tenancy in common is a concurrent estate where two or more parties owns a distinct, individual part of the property with the right to possess the whole. In other words, if Amy, Bob, and Dan are tenants in common in Blackacre, they each own 1/3rd of Blackacre, but have the right to possess 100% of Blackacre. They are equals. Amy is free to sell her interest to Carl. Bob is free to leave his interest to his heirs. "Tenancy in common" is the most common concurrent estate you'll run into on exams. Note that there is no survivorship rights for tenancy in common.
Hypothetical
Hypo 1: Amy, Bob, and Dan decide to purchase Blackacre for $100,000. Amy paid $90,000, Bob paid $5,000, and Dan paid $5,000. Result: We know for certain that Amy, Bob, and Dan are tenants in common and not joint tenants. Why? Because Amy has 90% ownership in Blackacre, which means that her interest is not identical to Bob and Dan.
Visual Aids
Related Concepts
In assessing the rights and duties of co-tenants, are encumbrances allowed?
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Which type of transactions may not result in severance of a joint tenancy?
