Tenancy in common (TIC) is a form of co-ownership where two or more individuals hold undivided interests in the same property. Unlike joint tenancy, there is no right of survivorship — when one co-tenant dies, their share passes to their heirs or beneficiaries according to their will or state intestacy law, not automatically to the surviving co-tenants. This makes tenancy in common the default form of co-ownership in most states when the deed does not specify otherwise.
TIC offers significant flexibility. Ownership shares do not need to be equal — one tenant might own 60% while another owns 40%. The interests can be acquired at different times and through different deeds. Each tenant has the right to use and occupy the entire property, regardless of their ownership percentage. And each tenant can independently sell, mortgage, lease, or gift their individual share without the consent of the other co-tenants — though practically, finding a buyer for a fractional interest in a property is difficult.
Tenancy in common is commonly used by: unmarried partners who want their heirs (rather than the surviving partner) to inherit their share, business partners investing in property together with unequal contributions, family members who inherit property together, and real estate investors pooling resources to purchase property. It is also the default ownership form when the deed simply lists multiple grantees without specifying the type of co-ownership.
The lack of survivorship rights is both the defining feature and the primary risk of TIC. If one co-tenant dies, their heirs inherit their share — which can create complications if the surviving co-tenants and the new heirs disagree about the property's management or disposition. Any co-tenant (or their heir) can file a partition action in court, forcing the property to be sold and the proceeds divided. This can be disruptive and costly for all parties.
At closing, the deed must accurately reflect the type of co-ownership and each party's percentage interest. Getting the vesting right at closing avoids expensive corrections later. At Beycome Title, we discuss vesting options with every buyer and ensure the deed reflects their intentions. We recommend consulting an estate planning attorney to understand the implications of TIC versus joint tenancy for your specific situation. Get your free closing quote.