A group of unrelated people are buying property together as co-owners. they'll likely either own it as tenants in common or ____

Question

choli [55]

1 year ago

13

A group of unrelated people are buying property together as co-owners. they'll likely either own it as tenants in common or ____

__.

Business

1 answer:

fiasKO [112] · Answer 1 · 2024-02-01T15:01:29+03:00

The group of unrelated people who are buying property together as co-owners will likely either own it as tenants in common or <u>joint tenancy</u>.

<h3>What is a tenants in common?</h3>

This is when each tenant in common has the right to possess and enjoy the entire property and can go into possession of the whole unless another co-tenant objects.

<h3>What is a joint tenancy?</h3>

In the legal terms, it refers to the title property that exist when multiple individuals purchase it together with equal interest in and equal rights to the property.

Therefore, the group of unrelated people who are buying property together as co-owners will likely either own it as tenants in common or <u>joint tenancy</u>.