Which type of property ownership does tenancy in common describe?

Tenancy in common is characterized by multiple individuals holding ownership interest in a property, where each person's interest is separate and distinct. One key feature of this type of ownership is that, upon the death of one owner, their interest in the property does not automatically pass to the other co-owners. Instead, the deceased owner's share will be distributed according to their will or, if there is no will, according to the intestacy laws of the state. This is a fundamental aspect of tenancy in common, highlighting the individual rights of each owner regarding their share of the property.

While conceptually different, the other options relate to other forms of property ownership, such as joint tenancy, where there are survivorship rights, full ownership by a single individual, or property ownership that is limited to a certain time frame, which are not elements of tenancy in common. The uniqueness of tenancy in common allows for independent rights and responsibilities, making it distinct from these other types.