What does it mean to be a tenant in common?

What does it mean to be a tenant in common?

Overview. A tenancy in common (TIC) is one of three types of concurrent estates (defined as an estate that has shared ownership, in which each owner owns a share of the property). ... Even if owners own unequal shares, all owners still have have the right to occupy and use all of the property.

What happens if a tenant in common dies?

When a tenant in common dies, their share of the property passes to their estate; they have the right to leave it to any beneficiary they choose.

Can tenants in common refuse to sell?

A If you and your co-owners are tenants in common - and so each own a distinct share of the property - then yes you can force a sale. ... Whatever your position, you will need to seek independent legal advice if you decide that forcing a sale is the way to go.

Can I be forced to sell my house tenants in common?

A If you and your co-owners are tenants in common - and so each own a distinct share of the property - then yes you can force a sale. ... Whatever your position, you will need to seek independent legal advice if you decide that forcing a sale is the way to go.