tenancy in common

American  

noun

Law.

1. a holding of property, usually real, by two or more persons with each owning an undivided share and with no right of survivorship.

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Etymology

Origin of tenancy in common

First recorded in 1760–70

Example Sentences

The space: Bright and sunny, this Midcentury space with white oak floors and butcher block counters is part of a “tenancy in common” building, which means residents share ownership and maintenance of the property with other residents.

From Los Angeles Times

The house: Centrally located near Echo Park Lake, this bright three-bedroom unit sits on the top level of a gated “tenancy in common” building, which means that residents share ownership and maintenance of the property with the other residents.

From Los Angeles Times

A controversial and growing form of co-ownership called tenancy in common — which allows landlords to oust tenants and convert rent-controlled properties into units for sale — is on the rise.

From Los Angeles Times

In Los Angeles, a controversial form of co-ownership — called tenancy in common, or TIC — is taking root amid a shortage of affordable housing for everyone from low-income households to those higher up the income scale.

From Los Angeles Times

Alternately, ownership can be structured as a tenancy in common, where two or more people hold title without the right of survivorship.

From The Wall Street Journal