Legal TermsHomebuying Glossary
Tenancy in Common
Also known as TIC
A way for multiple people to co-own a property, each with an individual, separately transferable share.
In plain English
Under tenancy in common, each co-owner holds an individual (potentially unequal) share of the property, which they can sell, will to heirs, or transfer independently — unlike joint tenancy, there's no automatic right of survivorship.
Why it matters
If you're buying with a friend, sibling, or partner (not a spouse), the way you title the property has real consequences for what happens if one owner wants out or passes away.
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