When a tenant in common dies, co-owners don't automatically inherit the property. The person or entity who gets their share of the property is named in their will or revocable living trust, or, if there is no will, the property passes via the state's intestacy laws.

What happens to tenants in common when one dies?

When a tenant in common dies, their share of the property passes to their estate; they have the right to leave it to any beneficiary they choose.

How does tenants in common affect inheritance?

With tenants in common, you each own a share of the property, typically split half and half. There is no inheritance tax to pay on assets willed between husband and wife, so the surviving partner does not have to pay IHT.