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tenancy in common

   Also found in: Legal 0.03 sec.
tenancy in common
A type of asset ownership for two or more persons in which, upon the death of one owner, his or her share passes to heirs if a will is left or to the estate if no will is left, rather than to the co-owners. Transactions involving the property require written permission of all owners. Compare joint tenancy with right of survivorship (JTWROS), tenancy by the entirety.
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