Tenants in Common

What It Means

Tenants in Common (TIC) is a property ownership structure that allows multiple people to own a property together while holding separate ownership percentages. Each owner has an undivided right to use the entire property, regardless of share size, but their financial interest is distinct and independently transferable.

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Under TIC, ownership shares can be unequal (for example, 60/40), often reflecting each person's financial contribution. The ownership percentage is recorded on the deed.

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Unlike Joint Tenancy, TIC does not include a right of survivorship. When a co-owner dies, their share passes to their heirs or estate — not automatically to the remaining co-owners.

TIC vs. Joint Tenancy

FeatureTenants in Common (TIC)Joint Tenancy with Right of SurvivorshipOwnership sharesCan be unequalMust be equalRight of survivorshipNo — share passes to heirsYes — share transfers automatically to surviving ownersTransfer rightsOwner can transfer their share (unless restricted by agreement)Transfer may sever joint tenancyEstate treatmentPasses through will or probateBypasses probateFlexibilityMore flexibleLess flexible

Why It Matters for Co-buyers

TIC is often the preferred structure for co-buyers because it allows ownership shares to reflect actual financial contributions. If one co-owner contributes 70% of the down payment and another contributes 30%, title can be structured 70/30.

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Because each owner's share is independently transferable, a co-owner could sell or transfer their interest without consent — unless a Co-ownership Agreement includes transfer restrictions and a Right of First Refusal.

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Because there is no right of survivorship, estate planning matters. Without coordination, surviving co-owners could find themselves co-owning the property with heirs.

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For this reason, TIC arrangements should be paired with a comprehensive Co-ownership Agreement.

Key Points

• Allows unequal ownership shares
• Each owner holds a distinct, transferable interest
• No automatic survivorship — shares pass to heirs
• Often best for co-buyers with unequal contributions
• Requires clear transfer and exit terms in a Co-ownership Agreement