Four people own an investment property with equal shares and a death transfer is possible to heirs. What form of title describes their ownership?

• A. Joint Tenancy
• B. Fee Simple
• C. Tenants in Common
• D. Tenancy by the Entirety

Answer: (C)

Inco-ownership where each owner holds a distinct, transferable share with no right of survivorship is tenancy in common. This fits four people owning equal 25% interests because there is no automatic transfer of a deceased owner’s share to the other owners; instead, that share passes to the deceased’s heirs or according to their will. All four still hold an undivided right to the whole property, but with separate, transferable percentages.

If it were joint tenancy, the death would trigger the right of survivorship, so the deceased’s interest would pass to the surviving co-owners, not to heirs. Tenancy by the entirety applies only to married couples, not four individuals. Fee simple can describe ownership in some contexts but does not specify the survivorship characteristics that define the co-ownership form in question.