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A tenancy in common lacks the unity of interest, and therefore one tenant may own the property in fee simple, whereas another can own it as a life estate.
The New Hampshire Supreme Court held that in the absence of clear language in the deed, any conveyance of property to husband and wife would now result in a tenancy in common.
1927) (holding tenancy in common forms after divorce).
The tenancy in common is, as Carol Rose has described, "commons on the inside, [private] on the outside.
There is also some evidence about the preferences of cottage owners who ultimately abandon a tenancy in common in favor of some other form of ownership.
For the typical tenancy in common, undivided land will be worth more than the sum total of its aggregate parts.
Because lenders are accustomed to (and from a servicing perspective, often only equipped to) dealing with a single borrower, it is important that a tenancy in common loan involving multiple borrowers be streamlined.
The loan documents and the tenancy in common agreement should be written to allow the lender to deal only with the manager.
These recommendations comply with rating agency guidelines for tenancy in common transactions.