What does the term 'tenancy in common' indicate regarding ownership rights?

The term 'tenancy in common' signifies a form of property ownership where two or more individuals hold an undivided interest in a property. This means that each co-owner has a share of the property, but no specific portion is designated to any one owner. The key aspect of tenancy in common is that there is no right of survivorship. Therefore, when one owner passes away, their share does not automatically transfer to the other co-owners; instead, it can be inherited by their heirs or designated beneficiaries. This is an essential distinction that differentiates tenancy in common from other forms of ownership, such as joint tenancy, which does include the right of survivorship. Thus, the ownership rights in a tenancy in common arrangement emphasize the undivided nature of the interest and the lack of survivorship, solidifying why this option correctly defines the concept.