Tenancy in common is the ownership of an asset by two or more persons, who own the asset in undivided interests that may be unequal. Each tenant in common has the right to inhabit the whole property. Under California law, ownership is assumed to be a tenancy in common unless otherwise noted.
For help interpreting ownership interests under a tenancy in common, contact a San Francisco attorney at The Evans Law Firm at 415-441-8669 or 888-50-EVANS or email@example.com to schedule a free initial consultation.
Bay Area Attorneys, Advising on Probate Matters Related to Home Ownership
When a tenant in common dies, his or her share of the asset is subject to his or her will or trust, or, if there is no will or trust, to intestate succession.
A tenancy in common may be subject to probate, but joint tenancies are not subject to probate. A tenancy in common may involve interests that are not equal. An interest in a tenancy in common may be given to others through a will or trust.
Some disadvantages of a tenancy in common include:
- The interest owned by the decedent may have to be probated.
- If the shares are unequal, that fact must be stated in the title to the asset, or the ownership will be presumed under state law to be equal.
Joint Asset Lawyers Serving Oakland and Communities Throughout California
To discuss how tenancy in common would apply to your situation, please call 415-441-8669 or contact our Bay Area lawyers online via e-mail to schedule a free initial consultation.