What distinguishes tenancy in common from joint tenancy?

Tenancy in common is characterized by the ability of co-owners to have unequal shares of ownership in the property. This means that each tenant in common can possess a different percentage of the property, which allows individuals to invest varying amounts or levels of interest in the property. For instance, one tenant might own 70% of the property while the other owns 30%, reflecting their respective contributions or agreements.

In contrast, joint tenancy requires that all tenants have equal shares and equal rights to the property, along with the right of survivorship, where upon the death of one tenant, their share automatically passes to the surviving tenants. This key difference helps to clarify why unequal ownership is a defining feature of tenancy in common.

The other statements do not accurately represent the characteristics of tenancy in common. Tenants in common do not have a right of survivorship (which is a hallmark of joint tenancy), they can inherit their share, and they are not required to own property equally. Understanding these distinctions is crucial for real estate law and managing property interests among co-owners.