When several individuals hold title to a property but do not have a right of survivorship, they are typically referred to as what?

When several individuals hold title to a property without a right of survivorship, they are referred to as tenants in common. In a tenancy in common, each individual holds an undivided interest in the property, which means they share the ownership but do not necessarily have equal shares. One of the key characteristics of this ownership arrangement is that, upon the death of one of the tenants, their share of the property does not automatically transfer to the surviving co-owners. Instead, it passes according to the deceased tenant's will or state laws of intestacy. This allows for greater flexibility in terms of inheritance, as each co-owner can designate how their share will be distributed after their death.

In contrast, other types of ownership, such as joint tenancy, include the right of survivorship, meaning that when one tenant dies, their share automatically goes to the surviving tenants. Life tenants hold the property for the duration of their life, and business partners typically refer to individuals engaged in a business venture rather than property ownership. Understanding these distinctions helps clarify the nature of property interests and the implications of various forms of ownership.