Tenancy In Common
Definition of "Tenancy in common"
Ownership of property by two or more people in undivided interests, without the right of survivorship. Each coowner's interest may be conveyed separately by its owner. Tenancy in common dissolved by conveyance of a co-tenant interest to another new tenancy in common is created between grantees and remaining co-tenants. In the event that one of them dies, his or her interest passes by a will to his or her devises or heirs by intestate succession and not to the other tenants in common.
Popular Real Estate Terms
The equity in property because of work in it by the buyer or holder which directly increases its value. ...
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Individual or business to which all rights (usually intangile) to property have been transferred. ...
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Properties that about and actually touch and share a common border. Properties B and C are contiguous. Property A is adjacent to properties B and C, but it is not contiguous. ...
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Loan that allows the borrower to pay only the interest for the first few years of the loan. ...
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