What is the nature of interest in a tenancy in common?

In a tenancy in common, the nature of interest is characterized as separate, distinct, and transferable. This type of ownership allows each co-owner to hold an individual interest in the property, which means that each person can own a different percentage and can manage that portion independently.

The distinct nature of the ownership interest implies that each tenant in common can sell, gift, or otherwise transfer their share without needing consent from the other owners. This flexibility is a cornerstone of a tenancy in common, allowing for individual ownership rights that are not dependent upon the other owners' decisions or situations.

This contrasts sharply with other forms of co-ownership, such as joint tenancy, where the ownership interest is joint and indivisible, typically requiring that all co-owners hold an equal share and involve rights of survivorship. In a tenancy in common, each owner’s share can be of unequal size, and the ownership is not restricted to being equal or undivided.