Tenants in common is a an arrangement similar to joint tenancy only there are no rights of survivorship and the shares that are owned can be unequal. Tenants in common is a typical arrangement in joint business ventures. This type of arrangement allows for each owner to make their own arrangements concerning the passing on of their share of the property. Each owner's portion of the tenancy is recorded as a percentage that becomes part of the each owner's estate. In estate planning it is important that tenant's in common make arrangement for the succession of ownership.