US Legal Forms
Legal Resources
Questions & Answers
Husband and Wife
My Husband and I acquired property as tenants in common. Is this part of our community property?

My Husband and I acquired property as tenants in common. Is this part of our community property?

Full question:

My Husband and I acquired some commercial property. When it was bought it was titled to us as tenants in common. Does this mean this property is part of our community property?

Category: Husband and Wife
Subcategory: Community Property
Date: 04/07/2025
State: California

Answer:

In California spouses can acquire property as Joint tenants, tenants in common, community property or community property with rights of survivorship.

Since this property was acquired as tenants in common, the ownership of each is treated as separate property. So each of you own an undivided 1/2 interest in the property.

The California Family Code provides:

750. Spouses may hold property as joint tenants or tenants in
common, or as community property, or as community property with a
right of survivorship.

751. The respective interests of each spouse in community property
during continuance of the marriage relation are present, existing,
and equal interests.

752. Except as otherwise provided by statute, neither spouse has
any interest in the separate property of the other.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What is the difference between tenants in common and community property?

Tenants in common and community property are two different ways to own property. In a tenancy in common, each owner holds a separate and distinct share of the property, which can be unequal, and they can sell or transfer their share independently. In contrast, community property means that both spouses equally own all property acquired during the marriage, regardless of who purchased it. This includes equal rights to use and control the property. In California, community property laws are outlined in the California Family Code (Cal. Fam. Code § 750). *Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.*

What are the disadvantages of a tenancy in common?

One disadvantage of a tenancy in common is that co-owners may have different interests or goals regarding the property, leading to potential conflicts. Additionally, if one owner wishes to sell their share, they can do so without the consent of the other owners, which may disrupt the use of the property. Furthermore, if one owner incurs debts or legal issues, creditors may place liens on their share, affecting the entire property. It's essential for co-owners to have clear agreements to mitigate these issues. *Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.*

Does a tenant in common have to pay rent?

Generally, a tenant in common does not have to pay rent to other co-owners for their share of the property. However, if one owner occupies the property exclusively, they may be expected to compensate the other owners for their share of the use. This is often determined by the terms of any agreement between the co-owners. Clear communication and agreements can help prevent disputes regarding occupancy and financial responsibilities. *Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.*

What are the downsides of tenancy in common?

Tenancy in common can lead to several downsides, such as potential disagreements among co-owners regarding property management or decisions. Since each owner can sell their share independently, this can create instability in ownership. Additionally, if one owner faces financial issues, their creditors may be able to claim their share, affecting the other owners. Without a clear agreement, these factors can complicate the management and enjoyment of the property. *Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.*

Does tenancy in common ownership mean all owners have an equal share of the property true or false?

False. In a tenancy in common, the owners do not have to hold equal shares of the property. Each owner can own a different percentage of the property, which may be specified in the ownership agreement. This differs from joint tenancy, where all owners typically have equal shares. It's important for co-owners to clearly outline their respective shares to avoid misunderstandings. *Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.*

What are the downsides of a tic?

Tenancy in common (TIC) has several downsides, including the potential for disputes among co-owners over property use and management. Each owner can independently sell their share, which may lead to unwanted co-ownership with strangers. Additionally, if one owner incurs debts, creditors may claim their share, impacting the entire property. Without a clear agreement, these issues can create complications and affect the enjoyment of the property. Effective communication and legal agreements are essential to mitigate these risks. *Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.*