Final answer:
If two or more unrelated parties receive real property and the conveyance does not address the character of the tenancy created, it is by law given as tenancy in common.
Tenancy in common is a form of co-ownership where each party has a separate and undivided interest in the property.
Step-by-step explanation:
If two or more unrelated parties receive real property and the conveyance does not address the character of the tenancy created, it is by law given as tenancy in common.
Tenancy in common is a form of co-ownership where each party has a separate and undivided interest in the property. It allows each party to possess the property and use it in any way they see fit, but it does not provide for survivorship rights.
For example, if two friends purchase a piece of land together and the conveyance does not specify the type of tenancy, they will be considered tenants in common.