Which statement is true about Tenants in Common?

• A. Co-owners must hold equal shares and there is a right of survivorship
• B. Co-owners may own unequal shares and there is no right of survivorship
• C. Only married couples can hold tenancy in common
• D. A tenancy in common cannot be inherited

Answer: (B)

Tenants in common is a form of co-ownership where each owner has a distinct, undivided ownership interest in the property. Crucially, those interests can be unequal, and there is no right of survivorship. That means if one owner dies, their share passes to their heirs or as dictated by their will, not automatically to the other co-owners. Each co-owner can transfer or encumber their own interest independently, and all owners may enjoy the property together, but the death or sale of one owner doesn’t automatically affect the ownership of the others. This contrasts with joint tenancy, where the shares are typically equal and there is a right of survivorship. Tenants in common is not limited to married couples; individuals can hold TIC interests, and those interests are inheritable.