Tenancy in Common
Direct definition
A form of co-ownership in which each owner holds a separate, transferable share with no automatic survivorship.
Written by the Vabasso Mortgage Editorial Team · Reviewed against agency and federal sources · Read our editorial policy for how we research and review mortgage content
Plain-English explanation
TIC shares can be unequal and can be sold or willed to heirs. It contrasts with joint tenancy's right of survivorship.
Why it matters
It's often used by unrelated co-owners, investors, and estate-planning arrangements.
Where you may see it
- Deed
- Title commitment
- Co-ownership agreement
A real-world example
Two investors hold 60/40 TIC interests in a property; on death, each interest passes per will.
Educational and illustrative only
A common misunderstanding
Tenancy in common doesn't include automatic survivorship rights — an owner's share passes to their estate, not automatically to the other co-owners, unlike joint tenancy.
Ask Vabasso AI
This glossary provides general educational information. Mortgage terminology, qualification methods, forms, timelines, fees, program rules, and legal meanings may vary by lender, investor, loan program, property, occupancy, state, and transaction. Definitions do not represent loan approval, legal advice, tax advice, or a commitment to lend.
- Author
- Vabasso Mortgage Editorial Team
- Reviewed by
- Vabasso Mortgage Licensed Advisory Team
- Last reviewed
- July 30, 2026