What is an essential characteristic of tenancy in common?

An essential characteristic of tenancy in common is individual ownership of shares. In this form of co-ownership, each tenant holds a distinct and separate share of the property, which means that each co-owner has the right to possess and use the entire property, but their respective ownership interests can be different sizes. For example, one tenant might own 50% of the property, while another owns 30%, and another might have 20%. This distinguishes tenancy in common from other forms of co-ownership, such as joint tenancy, where ownership is typically equal among co-owners and includes rights of survivorship.

In tenancy in common, when one of the co-owners dies, that person's interest in the property passes to their heirs or beneficiaries rather than automatically transferring to the other co-owners, as would be the case in joint tenancy. Therefore, this individual ownership aspect is a key feature that defines tenancy in common and is crucial for understanding how property rights are structured in this arrangement.