What happens to the share of a deceased co-owner in a Tenancy in Common?

What happens to the share of a deceased co-owner in a Tenancy in Common?

• A. The share reverts to the remaining owners
• B. The share goes to the deceased's heirs
• C. The share is dissolved
• D. The share must be sold publicly

Answer: (B)

In a Tenancy in Common, when one co-owner passes away, their share of the property does not simply revert to the remaining owners, dissolve, or require public sale. Instead, the deceased's share is passed on to their heirs or beneficiaries according to their will or state succession laws if there is no will. This means that ownership can shift to relatives or other designated individuals rather than just remaining with the other co-owners. This characteristic of Tenancy in Common provides flexibility in estate planning and allows for the potential transfer of ownership to another party without disrupting the interests of the surviving co-owners.

In a Tenancy in Common, when one co-owner passes away, their share of the property does not simply revert to the remaining owners, dissolve, or require public sale. Instead, the deceased's share is passed on to their heirs or beneficiaries according to their will or state succession laws if there is no will. This means that ownership can shift to relatives or other designated individuals rather than just remaining with the other co-owners. This characteristic of Tenancy in Common provides flexibility in estate planning and allows for the potential transfer of ownership to another party without disrupting the interests of the surviving co-owners.