tenancy in common

Definition

Co-ownership where each party owns a specific percentage share that can be sold or willed independently, without right of survivorship. The 'we own this together but I want out of this relationship' ownership structure.

Example Usage

As tenants in common with a 60/40 split, she owned 60% and could sell her share without his consent, unlike joint tenancy.

Origin

English common law property ownership form dating to medieval land tenure

Fun Fact

Tenancy in common is the default co-ownership form in most states unless you specifically request joint tenancy—meaning many co-owners accidentally choose it.

Source: Common law property ownership documentation

Related Terms

Intermediate

highest and best

A seller's request for all interested buyers to submit their absolute top offer by a deadline, usually because multiple lowballers are circling. It's the real estate version of 'final answer' from Who Wants to Be a Millionaire.

🏠 Real Estate

Beginner

Turnkey

A property that's supposedly ready to move into without any work, assuming your definition of "no work" includes ignoring the builder-grade everything and carpet that's technically beige but spiritually defeated.

🏠 Real Estate

Intermediate

debt-to-income ratio

The percentage of your gross monthly income that goes toward debt payments, used by lenders to determine if you can afford a mortgage. It's basically a mathematical judgment of your life choices.

🏠 Real Estate

Intermediate

FSBO

Short for For Sale By Owner, which is real estate speak for "I watched one YouTube video and now I don't need a professional." The savings on commission are usually offset by the cost of mistakes only a professional would have caught.

🏠 Real Estate

Advanced

CAM charges

Common Area Maintenance charges—fees in commercial leases where tenants reimburse landlords for shared expenses like landscaping, snow removal, and parking lot maintenance. It's how landlords outsource their property bills to the people renting from them.

🏠 Real Estate

Beginner

assessor

The government's official property stalker who determines how much your home is worth for tax purposes, usually right after you've renovated. These specialists combine questionable math with drive-by appraisals to decide your financial fate. They're like real estate agents, except they work for the taxman and nobody's happy to see them.

🏠 Real Estate

Translate This Term

See “tenancy in common” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.

Try the Translator

Share This Term

Post on X Share on Facebook Share on LinkedIn

Discover a Term

Beginner

cadbut

Denotes a large dome, a big head, or large cabbage. Often used with dickit, amspang, and baygeh....