A Comprehensive Guide to Tenancy In Common Georgia Talk to a trusted Georgia estate law. What Is Tenancy in Common in Real Estate? There are lots of benefits to occupancy in common in Georgia, but there are a few downsides to remember as well. Faulkner Law Offices can discuss. Call now! Author: Stan Faulkner, Founder, Perigon Legal Services, LLC Mr. Faulkner is a skilled counselor and litigator with 15 years of experience, having actually held bar licenses in 4 states (Mo, Il, Ct and Ga). Stan Faulkner utilizes this experience and focuses his skills in the pursuit of helping people in probate (trust and estate) matters, guardianships and conservatorships, estate planning, company conflicts and agreement disagreements. Published on January 23, 2023. While purchasing a residential or commercial property with another person, there may be numerous methods in which it can be entitled. Tenancy in common might be a good choice if 2 or more individuals who belong or unassociated are buying residential or commercial property for investment or other functions. Tenancy in common is a type of co-ownership where everyone owns a fractional interest in the residential or commercial property. This kind of ownership is commonly found in condominiums but can also exist in single-family homes and multi-unit apartment or condo structures. Since exact laws differ, talking with a proficient realty lawyer can help you understand Georgia residential or commercial property laws. They can help you determine whether tenancy in common is a great titling choice for you. See also: Forsyth County Court Of Probate Cobb County Probate Court Medical Power of Attorney Georgia How Does an Occupancy in Common Work? In order to create a tenancy in common, more than one person has actually to be included, and they should have an undistracted interest in the whole residential or commercial property.