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 Mississippi, tenancy in common is a form of co-ownership where two or more individuals may hold an undivided interest in a property. These co-owners may have unequal shares and each tenant in common has the right to transfer their share to others upon their death, as there is no right of survivorship inherent in tenancy in common arrangements. This contrasts with joint tenancy, where there is a right of survivorship and co-owners must have equal shares. In Mississippi, unless explicitly stated otherwise in the transfer or conveyance documents, the presumption is that the co-ownership is a tenancy in common. This means that if the deed or other legal documents do not specify the type of co-ownership, it defaults to a tenancy in common. The specifics of these arrangements are governed by Mississippi state statutes, and interpretations of these laws can also be influenced by state court opinions.