Which statement best describes tenancy in common?

• A. All owners hold identical shares with right of survivorship.
• B. Each owner has a separate share, which may be unequal.
• C. Ownership passes automatically to other co-owners on death.
• D. Shares must be equal among owners.

Answer: (B)

In tenancy in common, owners have separate, undivided interests in the property that do not have to be equal. This means each person can own a different percentage, and one owner’s share isn’t tied to or dependent on the others’ shares. There’s no right of survivorship, so when someone dies, their interest passes to their heirs or estate rather than automatically to the other co-owners. Owners can buy, sell, or encumber their own share without the need for the others’ agreement, though the overall title remains shared among all co-owners.

This best describes tenancy in common because it highlights the key features: separate and potentially unequal shares, lack of survivorship, and the ability for each owner to dispose of their own share. The other statements describe joint tenancy (equal shares with right of survivorship) or misstate how death affects ownership.