Difficulty: Medium

Average Score: 50%

Which of the following statements is true about tenancy in common

Rationale

A concurrent owner may convey a partial interest.

Tenancy in common allows each owner to hold a distinct share of the property, which can be of unequal size, and grants them the right to sell or convey their individual interest without needing the consent of the other co-owners. This flexibility in ownership is a defining feature of tenancy in common.

A (The ownership interest of each tenant must be equal) YOUR ANSWER

This statement is false because, in a tenancy in common, the ownership interests can be unequal. Each tenant may own a different percentage of the property, which is one of the key characteristics that distinguishes it from joint tenancy, where ownership interests must be equal.

C (There is no right of suit for partition) YOUR ANSWER

This statement is incorrect as tenants in common do have the right to file a suit for partition. This legal action allows any co-owner to seek a division of the property or a sale of the property to divide the proceeds among the owners, thus ensuring that co-ownership can be resolved in a manner that satisfies all parties involved.

D (The last survivor will own the property in severally) YOUR ANSWER

This statement misrepresents tenancy in common. Unlike joint tenancy, where the last surviving owner inherits the entire property, in tenancy in common, each owner’s share can be passed on to heirs upon their death, rather than reverting to the surviving owners. Therefore, the property does not automatically vest solely in the last survivor.

Conclusion

In summary, tenancy in common permits co-owners to have unequal shares and grants each the right to convey their interest independently. This ownership structure offers flexibility and individual rights that are not present in joint tenancy arrangements. Understanding these distinctions is crucial for property co-owners to effectively navigate their rights and responsibilities.

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