What title does shared ownership of a condominium typically confer?

In shared ownership of a condominium, the title typically conferred is tenancy in common. This form of ownership allows each co-owner to hold an individual share of the property, which means that each person has the right to sell, transfer, or bequeath their interest in the property independently of the other owners. This characteristic is essential in shared ownership situations like condominiums, where multiple individuals own separate units but share common areas.

Tenancy in common is distinct from joint tenancy, which includes the right of survivorship and requires equal shares among owners. In contrast, tenants in common can own unequal shares and their interests do not automatically pass to co-owners upon death. Tenancy by the entirety typically applies only to married couples, and exclusive possession does not refer to the nature of the ownership itself but rather to the right of an owner to possess the entire property.

Thus, tenancy in common is the most appropriate and common form of ownership for individuals owning a condominium, allowing for flexibility and independence among co-owners.