tenancy in common in equal shares
3 years ago
what does it mean ( TENANCY IN COMMON IN EQUAL SHARES )
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
When two or more people decide to own a house jointly then they can do so either as joint tenancy or tenancy in common.
Tenancy in Common is where property is owned by two people who have a unity in possession and commencement of title but their interest might be different. However, in tenancy in common in equal shares all the people hold equal percentage of ownership interest of the property since their contributions in purchase were also equal.
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When two or more people decide to own a house jointly then they can do so either as joint tenancy or tenancy in common.
Tenancy in Common is where property is owned by two people who have a unity in possession and commencement of title but their interest might be different. However, in tenancy in common in equal shares all the people hold equal percentage of ownership interest of the property since their contributions in purchase were also equal.
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Anonymous
Replied 1 year ago
Tenancy in common in equal shares means that the coowners have equal right over the property as coowners or
The all the coowners have equal ownership irrespective of the contribution that involved .
A.Hi,
Tenancy in Common in Equal Share is specifically applicable in situations where two or more people own the house. This can be done in two ways either as joint tenancy or tenancy in common. In the case of the latter, the property is owned by two people who are holding a percentage of ownership interest of the property, and this percentage can be equal or unequal. When they have equal shares since each owner is equally contributing to the purchase of the property then the owners are said to be in n arrangement specified as tenancy in Common in Equal Share.
If you find this answer helpful please rate my answer. Thank you.
Tenancy in Common in Equal Share is specifically applicable in situations where two or more people own the house. This can be done in two ways either as joint tenancy or tenancy in common. In the case of the latter, the property is owned by two people who are holding a percentage of ownership interest of the property, and this percentage can be equal or unequal. When they have equal shares since each owner is equally contributing to the purchase of the property then the owners are said to be in n arrangement specified as tenancy in Common in Equal Share.
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A.Dear Sir,
Such phrase appears in Muslim Law.
Such phrase appears in Muslim Law.
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