When two or more people own real estate at the same time without a right of survivorship, what is this ownership called?

The ownership where two or more people own real estate simultaneously without a right of survivorship is known as tenants in common. In this arrangement, each owner holds a separate and distinct share of the property. This means that upon the death of one owner, their share does not automatically transfer to the other owners; instead, it can be passed to heirs according to their will or estate laws.

This form of ownership provides flexibility, as the owners can own unequal shares and can also sell or transfer their interest without needing the consent of the other co-owners. It contrasts with joint tenancy, where co-owners have the right of survivorship, ensuring that upon the death of one owner, their share automatically passes to the surviving owner(s).

Other forms of ownership, such as tenancy by the entirety, are typically reserved for married couples and also include rights of survivorship, while a fee simple absolute represents outright ownership of a property without limitations, not directly tied to multiple owners. Thus, the correct term for this scenario is tenants in common, highlighting the individuality of ownership among co-owners without the right of survivorship.