Glossary
Glossary of terms and acronyms related to Australian banking, finance and investments.
Tenants in Common
Tenants in common is a type of joint ownership wherein two or more people share equal or uneven parts of a property. It is different from joint tenancy in that the shares don't have to be equal, and that ownership isn't automatically passed on when one owner passes away. Instead, the share is passed according to the owner's will, or if there is none, the law takes over and divides the share among the remaining owners according to certain criteria. Tenants in common can apply to any for of property, including lots, buildings and strata titles.
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