Forms of ownership glossary

Tenants in common own separate undivided shares without automatic survivorship

A 60 percent owner does not receive a fenced 60 percent of the property. Every co-owner has a right to possess the whole, subject to the equal rights of the others.

Last updated: August 1, 2026

Tenancy in common: definition first

Direct answer: Tenancy in common is co-ownership in which two or more owners hold separate undivided interests in the same property. Shares can be equal or unequal and can arise at different times or through different instruments. Each tenant in common can generally transfer, mortgage, or devise that owner's share. There is no automatic right of survivorship, so a deceased owner's interest passes through the applicable estate or transfer process rather than to the other tenants in common merely by status.

Why it is on the exam: PSI expressly tests the implications of tenancy in common in Property Ownership. Illinois's Joint Tenancy Act provides that covered conveyances are deemed to create tenancy in common unless joint tenancy is expressly declared, subject to the statute's terms and exceptions.

Owners

Two or more

Equal or unequal

Possession

Undivided right to the whole

Survivorship

None by default

Separate tenancy in common from joint tenancy

Decision point	Tenancy in common	Joint tenancy
Creation	Illinois default for covered co-owner conveyances unless another form is expressly created	Must be expressly declared under Illinois's statute
Shares	May be unequal	Traditionally equal undivided interests under the joint-tenancy structure
Survivorship	No automatic survivorship	Surviving joint tenants receive the deceased tenant's interest by survivorship
Owner transfer	Transferee steps into tenancy in common	A unilateral transfer can sever that owner's joint interest and create tenancy in common as to the transferee

Undivided means shared possession, not an unmeasured share

A deed can state that A owns 60 percent and B owns 40 percent. Those percentages describe economic ownership, proceeds, and obligations as applicable. They do not automatically assign the front room to A and the back room to B. Both hold interests throughout the parcel.

One co-owner generally cannot exclude another co-owner who has an equal right of possession. The parties can make an occupancy or management agreement, and a court can address disputes, accounting, ouster, or partition. The exam baseline is that every tenant in common can possess the whole without defeating the others' same right.

Identify each fractional or percentage interest.
Keep the possession right undivided across the parcel.
Separate an ownership share from exclusive physical space.
Check for a separate occupancy, lease, or management agreement.

Each share can follow a different transfer path

A tenant in common can generally convey that owner's own interest without conveying the shares of other co-owners. The buyer becomes a tenant in common with the remaining owners. A co-owner cannot transfer the entire fee unless authorized by all owners or another legal process.

A mortgage or judgment affecting one co-owner can attach to that owner's interest rather than automatically becoming a voluntary lien granted by every co-owner. Financing a whole property usually requires the title and consent structure the lender demands.

Death and partition reveal the absence of survivorship

When a tenant in common dies, that owner's share passes under a will, trust, transfer instrument, or intestacy and estate administration rules. The other co-owners do not absorb it automatically. A devisee or heir can become the new tenant in common after the legally required process.

If co-owners cannot agree on continued ownership, a partition action can seek physical division when practical or a sale and division of proceeds. Illinois law and the Uniform Partition of Heirs Property Act can affect procedure for qualifying property, so a live dispute requires current legal advice.

A 25 percent owner sells the share

Question: A, B, and C own Illinois property as tenants in common. A owns 25 percent and conveys that interest to D. B and C do not join the deed. What does D receive?

Best answer: D receives A's 25 percent undivided interest and becomes a tenant in common with B and C.

Why: A can generally transfer A's own share but cannot transfer B's or C's interests. D's 25 percent is an ownership fraction throughout the property, not an automatically assigned physical quarter.

Lock in the distinction

Exam trap

Do not give the largest tenant in common exclusive possession. A larger economic share does not by itself erase the smaller owner's undivided right to possess the whole property.

Memory cue

Common property, separate shares, shared possession, separate succession.

Quick questions

Do tenants in common have to own equal shares?

No. Their undivided interests can be equal or unequal.

Is there a right of survivorship in tenancy in common?

No automatic survivorship arises from tenancy-in-common status. A deceased owner's share passes through the applicable estate or transfer process.

Can one tenant in common sell a share?

Generally yes. The buyer takes that undivided share and becomes a tenant in common with the other owners.

What is the Illinois default co-ownership form?

For conveyances covered by 765 ILCS 1005/1, tenancy in common is the default unless the instrument expressly creates joint tenancy or another qualifying form.

Primary sources and review status

Checked through August 1, 2026. This definition is an exam-prep explanation, not a substitute for current law or advice about a live dispute. The current official source controls if the outline or Illinois rule changes.