Tenants In Common
When two unrelated parties take title as "tenants in common" each with an undivided 100% interest, and one of them dies without a living trust or will.............what happens to the deceased parties interest? Is it probated?
Where title is by tenancy in common, each tenant has an undivided, fractional interest in the property--each T/C doesn't have 100% interest. My understanding is that if one T/C dies intestate, that T/C's fractional interest passes to their heirs according to the state's law of descent.
I was thinking the same thing. Thank you very much.