What differentiates tenants in common from other forms of ownership?

The distinguishing feature of tenants in common ownership is that co-owners can hold unequal shares of the property and lack survivorship rights. This means each tenant in common can own a different percentage of the property, which may reflect their financial contribution or agreement. In the event of one owner's death, their share does not automatically transfer to the remaining co-owners but instead goes to their heirs or as dictated by their will. This contrasts with joint tenancy, where ownership is shared equally among co-owners with a right of survivorship, ensuring that the property passes directly to the surviving joint tenants upon one's death. Understanding this difference is crucial for real estate transactions and estate planning, as it affects how property rights are structured and what happens to ownership after an owner passes away.

Other forms of ownership do not allow for this flexibility in share distribution and often have different implications regarding what happens to the property in the event of an owner's death, making option B the correct and critical distinction for tenants in common.