Tenants in Common

Tenants in Common

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Tenants in Common

Tenants in Common definition:  When two or more persons own property and upon death, the property rights are transferred to the heirs of the deceased, rather than to the other owners. Tenancy in common also permits owners to gift or sell property independent of the other owner. Tenants in common is subject to probate.

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