Property Ownership

In Colorado, a 'tenancy in common' can be created with:

Q: In Colorado, a 'tenancy in common' can be created with:

Tenants in common can hold unequal shares (e.g., 60%/40% or 50%/25%/25%) with each owner holding a distinct but undivided interest in the whole property. Each can sell or transfer their share independently.

AOnly equal shares among all owners

BUnequal shares of ownership, with each owner having distinct but undivided interests✓ Correct

COnly two owners maximum

DOnly with a formal trust agreement

Explanation

Tenants in common can hold unequal shares (e.g.

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Key Terms to Know

Tenancy in Common

Co-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.

Joint Tenancy

Co-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.

Deed

A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).

Chain of Title

The sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.