What is a tenancy in common?

Tenancy in common is a type of shared ownership of a property in Alaska. It describes a relationship between two or more individuals who own a property together. Unlike joint tenancy, each individual is considered a tenant in common and has an “undivided interest” in the entire property. This means that each tenant has the right to use the entire property, but cannot exclude another tenant from using the property as well. Furthermore, each tenant has the right to sell or transfer their interest in the property without consent of the other tenants. In the event of one tenant’s death, their interest in the property is passed down to their heirs, rather than reverting to the other tenants in the property. Tenancy in common is also sometimes referred to as co-tenancy.

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What is a tenancy in common?

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