Ownership in common refers to the right of ownership shared by two or more people whose interests are divisible. Upon the death of one owner, their interest in the property passes to the dead owner’s heirs. This means that if A and B have ownership in common of property (E) , and A dies, A's share does not go to B. Rather, A's share goes to A’s heir.
This contrasts with joint ownership, where the interest of the dead owner would pass to the remaining owner(s).
[Last updated in July of 2021 by the Wex Definitions Team]