What does tenants in common mean in real estate?
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in my case, more than one person has a stake in our home, through contributing cash. we are "tenants in common"
Total Answers: 2, Total Page Views: 824.A tenancy in common occurs when a conveyance of a property is to two or more beneficiaries that hold distinct shares (rather than equal shares).
If the property is sold, the co-owners will only be entitled to their individual share in the proceeds. However, a property cannot be sold without all co-owners being present and in agreement.
A tenancy in common exists in equity rather than in law. If a joint tenancy is severed (i.e. by bankruptcy) then a tenancy in common is normally the result.
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