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tenancy in common
(redirected from Tenants in common)

   Also found in: Legal, Financial 0.02 sec.
tenancy in common
Ownership of property by two or more persons, each of whom may freely transfer his interest; the death of one tenant does not transfer his rights to the other or others.


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So, the simpler option - tenants in common - means sole ownership of your home will go your survivor.
If one tenant in common wants to sell, the other tenants in common have the option to vote to sell, not sell or buy the individuals shares.
A tenant in common can also generally sell his interest in the property without the permission of the other tenants in common (some restrictions may apply).
 
 
 
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