What does tenants in common mean?
In Maryland, tenants in common is a way of owning real property. Tenants in common does not have right of survivorship, therefore, each person owns their percentage of the property. That percentage goes to their estate when they pass. If you have two people owning a property as tenants in common, 50% would go through each person’s estate upon their death. That 50% would go to their beneficiaries. That’s unlike joint tenants or tenants by the entirety whereby the survivor takes the remainder of the property. It does not go through the decedent’s estate unless they are the last living survivor.