Tenancy in Partnership
Tenancy in partnership is an important principle in understanding an individual partner’s ownership right as it relates to the partnership and the law of partnership. Does he own the assets jointly or as tenants in common?
Common Tenancy
Common tenancy is a legal term defining ownership among two or more individuals. Common tenancy is also known as tenants in common. Its primary benefit is that it allows each owner the right to transfer ownership to their beneficiary(ies) without restriction.