Real Property
A form of co-ownership where two or more people hold separate, divisible shares with no right of survivorship.
Tenancy in common allows two or more people to own property together with separate, transferable interests. There is no right of survivorship, each owner's share passes to their heirs. Shares can be unequal. In New York, if two or more people take title without specifying the form of co-ownership, they are presumed to hold as tenants in common.
Exam Tip
Default in NY is tenancy in common. If a question says two people 'take title' without specifying, assume tenancy in common.
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Real Property
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NY Real Estate Real Property
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