Which type of property ownership allows multiple parties to own a single property while retaining individual shares?

The type of property ownership that allows multiple parties to own a single property while retaining individual shares is Tenancy in Common. In a Tenancy in Common arrangement, each owner holds an individual, undivided interest in the property. This means that each party can own different percentages of the property and has the right to transfer or sell their share independently of the other owners.

This arrangement is particularly beneficial for individuals who want to invest in property without requiring consensus from co-owners regarding decisions about the property. It provides flexibility in ownership and permits multiple owners to have distinct shares, which can be unequal, unlike other forms of co-ownership.

The other types of ownership, while allowing multiple parties to share property, operate under different rules. For example, in Joint Tenancy, all owners must hold equal shares and possess the right of survivorship, meaning if one owner dies, their share automatically goes to the surviving owners. Tenancy by the Entireties is a form of ownership available only to married couples, where both partners must agree for any action involving the property. Community Property typically refers to a form of ownership between spouses where assets acquired during the marriage are considered jointly owned, but it doesn’t allow for individual shares in the same way Tenancy in