Final answer:
The estate that may be created by the same or different deeds is called a tenancy in common. Each co-owner has the right of possession of the entire property and their interests can be inherited or sold independently.
Step-by-step explanation:
The estate that may be created by the same or different deeds is called a tenancy in common. In a tenancy in common, multiple individuals each own a separate and undivided share of the property. Each co-owner has the right of possession of the entire property and their interests can be inherited or sold independently.
For example, if two friends jointly purchase a property and each contribute 50% towards the purchase price, they would have a tenancy in common. If one friend decides to sell their share, they can do so without the consent of the other friend.
Unlike other types of estates, like joint tenancy or tenancy by entirety, there is no right of survivorship in a tenancy in common.