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Meaning of “tenancy in common” in the English Dictionary

"tenancy in common" in Business English

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tenancy in commonnoun [C or U]

uk   us   plural tenancies in common PROPERTY, LAW
a legal agreement in which two people or groups share ownership of a piece of property, but each person's share of the property is not passed automatically to the other tenant or tenants in common when they die: The title will convert to Tenancy in Common upon divorce. Today, especially in tenancies in common, unmarried persons are referred to as a single man, or a single woman.
(Definition of tenancy in common from the Cambridge Business English Dictionary © Cambridge University Press)
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