Do Owners As Tenants In Common Have Equal Voice In Ownership ?

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Do Owners As Tenants In Common Have Equal Voice In Ownership ?


Apartment Listing  

The owners or tenants in common have equal right over the property that they share individually. Tenants in common means two parties are sharing a single property with equal rights. However, the shares may differ. One person may own more than the other in the same property but the rights are not decided based on who owns more or less.

They are joint owners but in case of one person's death, the property goes to an external estate and not to the other owner or any survivor. However, when the owner or the partner is alive, then it is his or her wish to subdivide the property and bring other co-partners or more tenants in common into the property. A tenant in common does not essentially mean a contract between two people and there can be many of them. The size of the property that each tenant owns remains the same no matter what.

Tenants in common have equal rights over the property and they can sell or do whatever they want with their share of the property. Tenants in common can sell the property to each other too. However, the new owner can only avail rights as a tenant in common and not as anything else. An ownership usually comes with several privileges like claims, liberty, power to make changes and much more. As a tenant in common the rights that they have are right to dispose their own property, right to make changes to their own property and right to enjoy their own property.

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Do Owners As Tenants In Common Have Equal Voice In Ownership ?

 
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Do Owners As Tenants In Common Have Equal Voice In Ownership ?