Tenancy Application Form Inspire Real Estate Solutions

Instructions and help about Tenancy Application Form Inspire Real Estate Solutions

welcome to real estate school this is the second video in our series the five concepts you need to understand to pass your state's real estate license exam [Music] today we are discussing co-ownership specifically the concepts of tendency in common joint tendency and tendency by the entirety so let's get started there are two ways you can own property by yourself or with somebody else ownership and severalty occurs when property is owned by one individual corporation or other entity the term comes from the fact that the sole owner is severed or cut off from other owners concurrent estates occur when two or more people own the same property they are called co-tenants or co-owners most states commonly recognize various forms of co-ownership there is one characteristic that exists for all concurrent estates all co-tenants have the right of possession the right to use the whole property individuals may co-own property as tenants in common or joint tenants some states also recognize a speci