Glossary · UK
What is Tenants in Common?
A way for two or more people to jointly own a property where each owner holds a defined (not necessarily equal) share, and that share passes under their will rather than automatically to the other owners.
Full Definition
Tenants in common is one of the two main ways multiple people can legally co-own a property in England and Wales (Scotland uses similar but separately named concepts). Under this arrangement, each owner holds a specific, identifiable share of the property -- commonly split 50/50, but it can be any proportion, such as 70/30, reflecting unequal contributions to the deposit or mortgage. Because each share is a distinct asset, an owner is free to leave their share to whoever they choose in their will, and on death their share does not automatically pass to the other co-owner(s) -- instead it passes according to the will, or under intestacy rules if there is no will, and typically needs to go through probate before it can be transferred. Tenants in common is often chosen by unmarried couples buying together, friends or family co-investing in a property, or people on a second marriage who want to protect a share of the property for children from a previous relationship, since it allows each owner to control exactly what happens to their portion of the property when they die. The precise split of ownership shares is usually recorded in a declaration of trust (also called a deed of trust), which sets out not just the ownership percentages but also how proceeds should be divided if the property is later sold, and how costs such as the mortgage and repairs should be shared in the meantime. This contrasts with joint tenants, where co-owners hold the whole property equally together with an automatic right of survivorship.