The form of property ownership in which each owner owns an undivided interest in real property. In a condominium, all owners have tenancy in common interest in common areas.
Tag: RAW
Tenant’s liability
The liability of a tenant under contract or tort for loss or damage to the premises leased to him. The custody and control exclusion in a public liability policy is overridden in connection with property leased to the insured to give cover. The tenant’s liability section of a household contents policy indemnifies the insured in respect of liability for buildings damage when caused by insured peril.
Tenant’s policy
A package policy specially designed to meet the normal insurance requirements of a private tenant covering personal belongings and liabilities. Used by those living in apartments or other rented dwellings.
Tenant’s policy (Property Insurance)
A form of homeowners insurance especially for people who rent.
Tenants improvements and betterments
See: Improvements and betterments.
Tenants in common
A form of joint property ownership in which the owners may have unequal shares and which does not involve a right of survivorship.
Tenants in common (Legal Terminology)
A type of tenancy shared between two or more people. This occurs when the possession and ownership of a piece of real property is shared among more than two people, each of whom is allowed to sell their share of ownership on the property.
Tenants Liability
Cover for damage to rented buildings.
Tenants Policy
Householders policy which is covers Tenants property and other insurance requirements.
Tender bond
See: BID BOND.