A concurrent ownership of property, in equal or unequal shares, by two or more joint tenants who lack survivorship rights.

• A. Tenancy by the entirety
• B. Joint tenancy
• C. Cooperative ownership
• D. Tenancy in common

Answer: (D)

The situation describes tenancy in common. In this form of concurrent ownership, two or more people share the property with an undivided right to possession, and the owners can hold equal or unequal shares. Crucially, there is no right of survivorship, so when one owner dies, that owner’s interest passes to their heirs or according to their will, rather than automatically to the surviving owners. This distinguishes it from joint tenancy and tenancy by the entirety, both of which include survivorship rights. Cooperative ownership and other arrangements involve different structures of ownership and rights. For example, if two people own as tenants in common with unequal shares, say 60/40, upon the death of the 60% owner, that 60% would go to that owner's heirs, not to the other co-owner.