Investopedia

Continue to Site »

Tenancy In Common

Filed Under »
Dictionary Says

Definition of 'Tenancy In Common'

A way for two or more people to have equal ownership interests in a property. Each owner has the right to leave his or her share of the property to any beneficiary upon the owner's death. Each party (owner) in a tenancy-in-common agreement has the right to use the property even if the physical size of the stake is different.
Investopedia Says

Investopedia explains 'Tenancy In Common'

It is important to understand that tenancy in common is different than joint tenancy because the transfer of the property to a beneficiary in the event of an owner's death is different in each case. In a joint tenancy agreement, the title of the property is passed to the surviving owner, while in a tenancy-in-common agreement, the title can be passed to a beneficiary of the owner's choosing.

Articles Of Interest

  1.

    The Benefits And Pitfalls Of Joint Tenancy

    This arrangement allows beneficiaries to access your account without having to go to court.

  2. How To Choose The Right Executor For Your Estate

    Making a careful choice now can save your heirs from a lot of problems later.

  3. Why You Should Draft A Will

    Don't trust the courts to follow your wishes - plan the distribution of your own assets.

  4. Your Will: Why You Need A Power Of Attorney And Beneficiaries

    What would happen if you were suddenly unable to manage your financial affairs? Preparation is the best protection.

  5. Why You Shouldn't Let Your Partner Do The Books

    One person often deals with the finances in a relationship, but being ignorant has a cost.

  6. Skipping-Out on Probate Costs

    Don't let bad estate planning lead to unnecessary costs and stress for your inheritors.

  7. Reasons Renting Is Better Than Buying

    Owning a home is much more expensive than renting. Here are the places where the costs differ greatly.

  8. Retirement Living: Renting Vs. Home Ownership

    Here are three simple questions you should consider when weighing this decision.

  9. 6 Ways To Get Your Full Security Deposit Back

    When renting an apartment, a security or damage deposit is almost always required. Here are some tips to help you avoid unforeseen circumstances and get your money back in its entirety when you ...

  10. Moving Back Home: A Win-Win Situation

    When a young adult moves back home it can be beneficial for their finances and their parents'.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Winner's Curse

    Because of incomplete information, emotions or any other number of factors regarding the item being auctioned, bidders can have a difficult time determining the item's intrinsic value. As a result, the largest overestimation of an item's value ends up winning the auction.

  2. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  3. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  4. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  5. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  6. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
Trading Center