understanding financial jargon
Tenancy In Common
Where property is owned and occupied by more than one person, with each person's share being specifically defined, the joint owners share 'Tenancy in common'. They do not have undivided possession, but several freeholds. The share of a deceased person does NOT pass to the surviving joint owners, but to the deceased persons estate.
What to do if you need more help
If you need more help with your specific commercial loan, mortgage or insurance requirement please speak to a professional financial adviser.
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