Question 28

Tenancy in common features individual, undivided interest in the property and includes rights of inheritance rather than survivorship.

Tenancy in common allows multiple owners to hold an undivided interest in the property, meaning each owner has a separate share that does not affect the others. Importantly, in this type of co-ownership, the right of inheritance is preserved, allowing owners to pass on their share to heirs.

A) tenancy in common

This option is correct because tenancy in common allows co-owners to possess individual, undivided interests in the property. Each tenant can sell or transfer their share of the property independently and upon death, their interest can be inherited by their heirs, rather than being transferred to the other co-owners.

B) tenancy by the entirety

This option is incorrect as tenancy by the entirety is a form of joint ownership available only to married couples, which includes the right of survivorship. When one spouse dies, their interest automatically passes to the surviving spouse, not to heirs.

C) joint tenancy

This option is also incorrect because joint tenancy includes the right of survivorship, meaning that when one joint tenant dies, their share automatically goes to the remaining joint tenants. This arrangement does not allow for inheritance by heirs.

D) severalty

This option is incorrect as severalty refers to ownership by a single individual, not multiple owners. In severalty, there are no shared interests or rights of inheritance among co-owners, which is contrary to the question's focus on co-ownership.

Conclusion

Tenancy in common is definitively the correct answer as it provides individual, undivided interests in property with inheritance rights, unlike the other forms of ownership. In contrast, tenancy by the entirety and joint tenancy both include rights of survivorship, and severalty does not involve co-ownership at all, highlighting why tenancy in common is unique in this context.