Which ownership form is defined by shared ownership with no right of survivorship?

• A. Tenants in Common (TIC)
• B. Joint Tenants with the Right of Survivorship (JTWROS)
• C. Sole Proprietor
• D. Fee Simple

Answer: (A)

Tenants in common is the form of shared ownership where co-owners have undivided possession of the property but hold distinct, transferable interests without right of survivorship. This means each owner can leave their share to heirs or sell it, and the other co-owners do not automatically acquire it upon death. Shares can be equal or unequal. In contrast, joint tenancy includes a right of survivorship, so the surviving co-owners automatically gain a decedent's share; a sole proprietor is just one owner, and fee simple describes the broadest form of ownership rather than a co-ownership with survivorship characteristics.