Which of the following statements is true about tenancy in common?
A) All of the co-owners must own equal shares of the property.
B) Upon the death of an owner, his or her property interest is divided among the other owners.
C) The owners' interests in the property cannot be attached by creditors.
D) An owner may sell his or her interest in the property without the consent of the other owners.

Question

Quizplus · Accepted Answer

In tenancy in common, each owner may own a different percentage of the property and may sell or transfer their share without the consent of the other owners. Upon the death of an owner, their share is passed on to their heirs or beneficiaries, not divided among the other owners. Creditor attachment is possible as each owner's share is not protected from individual debts or judgments. Option A is incorrect as co-owners may own unequal shares in tenancy in common. Option B is incorrect as the deceased owner's share goes to their heir or beneficiary, not the other owners. Option C is incorrect as the owners' shares can be attached by creditors.

Which of the Following Statements Is True About Tenancy in Common