Tenancy in common is the ownership of real property by two or more co-owners (tenants in common) who may have equal or unequal ownership interests in the property (unlike joint tenants who must own equal shares).

Tenants in common (TIC) can transfer (bequeath or devise) their ownership interests to anyone upon their death, as there is no right of survivorship among tenants in common (there is a right of survivorship among joint tenants).

Unless the transfer or conveyance documents clearly establish that parties own a piece of real property as joint tenants, the default nature of ownership of real property by multiple parties is as tenants in common.

Laws vary from state to state and in many states the law regarding ownership of real property as tenants in common or as joint tenants is located in the state’s statutes—although it may also be located in a state’s court opinions (common law or case law).

In Delaware, tenancy in common is a form of co-ownership where two or more individuals own a piece of real property together, with each having a distinct share that can be unequal. These shares can be freely transferred to others upon the owner's death, as there is no right of survivorship inherent in tenancy in common arrangements. This means that when one tenant in common dies, their interest in the property does not automatically pass to the surviving co-owners, as it would with joint tenancy. Instead, it becomes part of the deceased's estate and is distributed according to their will or the state's intestacy laws if there is no will. In Delaware, unless explicitly stated otherwise in the deed or transfer document, the presumption is that the co-ownership is arranged as tenancy in common. This is in contrast to joint tenancy, which requires a clear expression of intent to create equal shares and the right of survivorship. Delaware's statutes and case law govern the specifics of these property ownership arrangements, and it is important for property owners to clearly state their intentions in property conveyance documents to ensure their ownership interests are structured as desired.