Tenancy in Common

Tenancy in Common - Tenancy in Common is a form of concurrent property ownership where multiple individuals hold separate and undivided interests in the same property. Each tenant in common has the right to sell, transfer, or bequeath their individual share without the consent of the other co-owners, and upon death, their interest passes to their heirs rather than the remaining co-owners.

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/RDvd595QjUByS6fw9LeWBTA
Label (rdfs): Tenancy in Common
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Definition and Examples

Definition: Tenancy in Common is a form of concurrent property ownership where multiple individuals hold separate and undivided interests in the same property. Each tenant in common has the right to sell, transfer, or bequeath their individual share without the consent of the other co-owners, and upon death, their interest passes to their heirs rather than the remaining co-owners.
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Translations

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Class Relationships

Sub Class Of: Concurrent Interest
Parent Class Of: Right to Use Common Areas

Right to Exclusive Use
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Additional Information

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Deprecated: False

Metadata

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