Question

Two unmarried persons take title to property together. they don't specify any method of holding title in the deed. their form of ownership will be:________

Answer 1

Two unmarried persons take title to property together. they don't specify any method of holding title in the deed. their form of ownership will be Tenancy in common

What is Tenancy in common?

One of three forms of concurrent estates is a tenancy in common (TIC) (defined as an estate that has shared ownership, in which each owner owns a share of the property). A joint tenancy and a tenancy by the entirety are the other two forms. A TIC normally does not have a right of survivorship.

Tenancy in common (TIC) is a legal structure in which two or more persons jointly possess real property, such as a building or a plot of land. The main feature of a TIC is that any party can sell their share of the property while retaining the ability to pass on their share to their heirs.

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