Tenancy in Common

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Grand Canyon University *

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GOV-360

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Law

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Feb 20, 2024

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Tenancy in Common Tenancy in common is a form of joint ownership. It is the ownership of property by two or more people. The interest each individual owns can be sold, transferred, or inherited (Liuzzo & Hughes, 2022). The interests can be equal or unequal with certain parties only owning one- fourth interest to others owning half. One specific distinction of tenancy in common is that at the time of an owner’s death their interest does not pass to the other owners but to that person’s heirs (Liuzzo & Hughes, 2022). This is where tenancy in common differs from joint tenancy. Tenancy in common is only one of three types of concurrent estates. The other two include join ownership and tenancy by the entirety (Liuzzo & Hughes, 2022). Tenancy in common is created with something called a tenancy in common agreement. This is a contract that highlights and describes each owner’s percentage of the property and the agreement to share interest (Cyndi, 2015). Because there is no right to survivorship tenancy in common can be severed or passed to someone through that of a will or an heir. In other cases, an owner is free to do what they wish with their share which could simply be just selling it (“How is Tenancy in Common Severed?” 2022). One option that is available as well is to partition a court to partition the property. The court can also partition by sale which would force the property to be sold even of the co-owners did not want to. Each owner would receive the money from the sale based on their share of the properties interest (“How is Tenancy in Common Severed?” 2022). Two court cases that discuss tenancy in common include Bryant v. Bryant and Taylor v. Canterbury. In Bryant v. Bryant the case consisted of an owner, the grandma, conveying she was to give the property to her son because of the right of survivorship in a joint ownership, but then transferring interest to her grandson which then resulted in a tenancy in common situation

between son and grandson and severing joint ownership between the grandma and the son (Bryant v. Bryant, 2017). The other case that talked about tenancy in common is Taylor v. Canterbury case. In this case joint tenancy was severed and a joint tenant who transferred the property back to himself and another join tenant as tenants in common effectively severed the joint tenancy. No third party was necessary to sever the joint tenancy (Taylor v. Canterbury, 2004).

References Bryant v. Bryant, 522 S.W.3d 392, 2017 Tenn. LEXIS 212, 2017 WL 1404388 (Supreme Court of Tennessee, At NashvilleApril 19, 2017, Filed). https://advance- lexis . com.lopes.idm.oclc.org/api/document? collection=cases&id=urn:contentItem:5NBW-1TG1-F04K-9045-00000- 00&context=1516831 . Cydni. (2015, August 19). Tenants in common - Definition, examples, processes . Legal Dictionary. https://legaldictionary.net/tenants-in-common/#:~:text=A%20tenancy%20in %20common%20is%20created%20through%20the,bought%20and%20sold%20like %20any%20other%20investment%20opportunity How Is a Tenancy in Common Severed? (2022). HG.org Legal Resources. https://www.hg.org/legal-articles/how-is-a-tenancy-in-common-severed- 36065 Liuzzo, A., & Hughes, R. C. (2022). Essentials of business law (11th ed.). McGraw-Hill. Taylor v. Canterbury, 92 P.3d 961, 2004 Colo. LEXIS 526 (Supreme Court of Colorado June 28, 2004, Decided ). https://advance-lexis-com.lopes.idm.oclc.org/api/document? collection=cases&id=urn:contentItem:4CR9-26K0-0039-41GB-00000- 00&context=1516831 .

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