tenancy in common

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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.
References in periodicals archive ?
Most modern tenancies in common, in contrast, occur accidentally through the confluence of default property rules and poor estate planning.
Much of the work on common resources, and particularly on tenancies in common, emphasizes that co-tenants are locked into a classic bilateral monopoly: with respect to many issues, they have no one to negotiate with except each other.
Tenancies in common can be used to avoid or reduce inheritance tax that might become due on the surviving partner's estate.