What is the most common form of co-ownership when the owners are not married?

The most common form of co-ownership when the owners are not married is tenancy in common. This form of ownership allows two or more individuals to own property together, with each owner holding a separate, undivided interest in the property. Each co-owner can sell or transfer their interest without the consent of the other owners, which provides flexibility.

In tenancy in common, the shares do not need to be equal, and co-owners can pass their interest to their heirs in the event of death, which is beneficial for estate planning. This arrangement is often preferred by unmarried couples or friends because it aligns well with their intentions and legal rights regarding property deeds and inheritances.

While joint tenancy involves a right of survivorship, meaning that upon one owner's death, their share automatically goes to the surviving owner(s), this feature can complicate ownership dynamics for individuals who are not married. Community property is typically a legal framework used by married couples. Fraternity ownership is not a recognized form of property ownership and thus is not relevant in this context.