Definition
Tenancy in common is a form of co-ownership where two or more people hold title to a property, but each person's share can be unequal and each owner can sell, gift, or will their share independently. Unlike joint tenancy, there is no automatic right of survivorship, so when a co-owner dies, their share passes to their heirs or according to their will rather than to the other owners. This structure is common among business partners, unrelated investors, or family members who inherited a property with unequal shares. For a homeowner selling a house held as tenants in common, every owner generally must agree to a full sale, though an individual owner can sometimes sell just their fractional interest to someone else. Disagreements among tenants in common are a frequent source of stalled sales, since one owner wanting cash now and another wanting to hold the property can create conflict. Knowing your percentage of ownership is essential for figuring out how proceeds will be divided. Two features define tenancy in common: shares can be unequal, and there is no right of survivorship. When a co-owner dies, their share passes through their estate to their heirs rather than to the other co-owners, which is how a house ends up with four or five owners a generation later, some of whom have never seen it.
Example
Three cousins, Malia, Josh, and Devon, inherited their grandmother's house as tenants in common, with ownership split 50%, 30%, and 20% based on the will. When they decided to sell, the title company divided the net proceeds exactly according to those percentages rather than splitting them evenly among the three of them. Josh initially wanted to keep the house as a rental property, while Malia and Devon both needed their share of cash sooner rather than later. After a few tense phone calls and a family meeting, all three agreed that selling was simpler than trying to co-manage a rental from three different cities. Because the unequal split was clearly documented in the deed and probate paperwork, closing was straightforward once everyone signed, and each cousin received a wire transfer matching their exact percentage within a day of closing. That is also why these sales stall. Every owner generally has to sign the deed, so the work is locating each interest holder, confirming what share they hold and getting agreement on price and timing — before any of that, a title search establishes who actually owns what on the record.