Undivided fractional interest in property

• A. Tenancy in Common
• B. Sole Ownership
• C. Concurrent Ownership
• D. Party Wall Easement

Answer: (A)

Undivided fractional interests describe a situation where more than one person owns the whole property together, each owning a specific percentage of the entire property and having the right to possess the whole property. This arrangement is tenancy in common. You can have unequal shares, and there is no right of survivorship—when someone dies, their share passes to their heirs or as directed by their will, not automatically to the other co-owners.

This differs from sole ownership, which involves a single owner, and from a party wall easement, which is an easement rather than an ownership form. While concurrent ownership is the broad category that includes tenancy in common (and joint tenancy), the presence of undivided fractional interests with potentially unequal shares is the hallmark of tenancy in common.