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Tenants in common (TIC) is a type of joint ownership which allows two or more people to own real estate together. Laws in certain states declare that two unmarried individuals own property as tenants in common unless they have agreed to a different form of ownership in writing. Under TIC deeds, the tenants all equally retain the right to access and possess the property.
In most ways, the two forms of co-ownership are identical, but joint tenants have a right of survivorship: If one joint tenant dies, his share is divided up equally among the other owners instead of going to his heirs. Tenants in common can bequeath their property to whomever they choose.