Which form of co-ownership allows each party to pass their interest to heirs upon death?

In the context of co-ownership, Tenancy in Common is the form that allows each co-owner to pass their interest in the property to their heirs upon death. This means that if a tenant in common passes away, their share of the property does not automatically go to the surviving co-owners, but instead can be inherited by their designated beneficiaries or heirs as stated in their will or through intestacy laws.

This characteristic distinguishes Tenancy in Common from other forms of co-ownership. For example, Joint Tenancy includes the right of survivorship, meaning that upon death, a co-owner's interest automatically passes to the remaining co-owners, rather than to their heirs. Tenancy at Will permits occupancy without a fixed duration and does not grant rights to inheritance. Similarly, Tenancy by the Entirety is a form available only to married couples that also provides rights of survivorship. In contrast, Tenancy in Common offers greater flexibility regarding the transfer of ownership interests, making it a more suitable choice for individuals wanting to retain inheritance rights.