Which type of ownership can involve multiple individuals owning property together?

Tenants in common is a type of ownership that allows multiple individuals to own property together, each having an undivided interest in the entire property rather than a specific portion. This means that each co-owner, known as a tenant in common, can sell, transfer, or bequeath their interest in the property independently without needing approval from the other co-owners.

In this arrangement, there is no right of survivorship; when one tenant passes away, their share of the property does not automatically transfer to the other tenants but instead goes to their heirs or according to their estate plan. This provides flexibility and allows for multiple co-owners to have differing ownership shares in the same property, each retaining full rights over their portion.

The other types of ownership mentioned, while they can involve multiple individuals, come with different rules and implications. Joint tenancy, for instance, includes the right of survivorship, which automatically transfers the deceased owner's interest to the remaining co-owners. Community property typically pertains to married couples and treats property acquired during the marriage as jointly owned, while tenancy by the entirety is similar to joint tenancy but specifically applies only to married couples, providing additional legal protections against creditors.