Also found in: Financial, Encyclopedia. Tenancy in Common A form of concurrent ownership of real property in which two or more persons possess the property simultaneously; it can be created by deed, will, or operation of law. Tenancy in Common is a specific type of concurrent, or ...
There are several ways two or more people can own property together, including tenancy in common and joint tenancy. Learn the difference between these two ways to own property together.
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A so-called napkin agreement is executed in April 1999 whereby Bixler agrees to put up $ 365,000 and receive a 50 percent interest to be held as tenants in common wim 40 percent of the gravel and 25 percent of the net mineral lights. In May 1999, the parties record a warranty deed ...