There are several ways that property can be owned:
Sole owner: You own the property in your own name.
Tenants in common: Two or more people own property together. Under a tenant in common arrangement, each owner has a divisible interest in the property. Although most tenant in common ownerships are split equally (i.e., 50-50 ownership), there is no legal requirement that it has to be this way. Often, there are financial or other considerations that dictate a different ownership split — for example, 90-10 or 75-25.
In a tenant in common ownership, on the death of one owner, the deceased person’s percentage ownership is part of his or her estate. The property interest does not transfer to the surviving owner. If there is a will, that portion of the property is distributed in accordance with the instructions in the will. If the person dies intestate (i.e. without a will), then the laws of the jurisdiction where the person lived control the distribution.