Which of the following describes tenancy in common?

Tenancy in common is characterized as a form of co-ownership where two or more individuals have individual, undivided interests in a property. This means that each co-owner holds a specific share of the property, but their interest is not physically divided; rather, they have the right to use and occupy the entire property regardless of the proportion they own. This structure allows for each tenant in common to independently transfer their share of the property, and importantly, there are no rights of survivorship—if one co-owner passes away, their share goes to their heirs rather than automatically to the surviving co-owners.

Other options do not accurately reflect the nature of tenancy in common. Exclusive ownership implies that only one individual possesses complete control over a property, which does not describe the co-ownership aspect of tenancy in common. Properties owned by a single individual shared by heirs suggests sole ownership rather than the shared interests that characterize tenancy in common. Lastly, co-ownership with rights of survivorship describes joint tenancy, not tenancy in common, as it includes an automatic transfer of ownership to surviving co-owners upon the death of one owner, which is distinctly different from the framework of tenancy in common.