Tenancy in common refers to a situation in which two or more persons share ownership of a property or piece of land. It is possible that the property is either commercial or residential. The property goes to a tenant in common’s estate when he or she dies. Each separate owner may have equal or unequal authority over the whole property.
In addition, a tenancy in common partner has the right to leave their share of the property as part of their inheritance to any recipient. The deed, title, or other legally enforceable property ownership documents specify the contract conditions for tenants in common.