Which of the following is TRUE of a tenancy in common?

A tenancy in common is characterized by the fact that each tenant holds an individual, undivided interest in the property. This means that the tenants share an indivisible interest in the entire property, rather than a specific portion of it. Each tenant has the right to use and enjoy the whole property, regardless of their share percentage. This arrangement allows for flexibility in ownership, as tenants can hold differing proportions without affecting the collective rights to the property.

In addition to sharing an indivisible interest, tenants in common have their individual rights when it comes to transferring their interest in the property. Each tenant can sell, gift, or otherwise transfer their ownership share without the consent of the other co-owners, making it a unique and oftentimes complex ownership arrangement.

The other statements do not accurately represent the nature of a tenancy in common. For example, tenants do not necessarily have equal shares; they can have varying proportions of ownership. Additionally, it is not required that tenants in common be related; they can be individuals or entities who come together to co-own property. Lastly, each tenant does not hold a separate title; rather, they all share a common title to the property, reflecting their collective ownership interest.