Title Tenants In Common
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FAQ
Tenancy in Common. Tenancy in common is another viable option for two or more owners who wish to jointly own property. When a property has tenants in common, it simply means that ownership is shared, and that each owner has a distinct and transferable interest in the property.
The term joint tenants in common (JTIC) refers to a legal relationship in which two or more people own a piece of property or another asset where no rights of survivorship are afforded to any of the account holders. If one owner dies, the surviving owner doesn't necessarily acquire the rights of the deceased owner.
If you are tenants in common, your Title Register Document will contain the following, or similar, phrase: No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the court.