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Tenant in common

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one holding real or personal property in common with others, having distinct but undivided interests. See Joint tenant, under Joint.
See under Common.
- Blackstone.

See also: Common Tenant



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If one tenant in common wants to sell, the other tenants in common have the option to vote to sell, not sell or buy the individuals shares.
A tenant in common is a fractional owner of the common property, meaning, for example, that if the property is sold he is entitled to a certain percentage of the proceeds.
2002-22, each co-owner must hold title to the property as a tenant in common under local law.
 
 
 
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