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forms of ownership section title can be held in severalty or as a concurrent estate severalty is sole or independent ownership by a person or entity that means there is only one name on the deed a concurrent estate describes the various ways in which property can be owned by more than one person at a given time three types of concurrent estates are joint tenancy tenancy in common and community property tenancy in common is the most common type of ownership ownership is assumed to be a tendency in common unless stated otherwise a tenancy in common is a form of ownership of title to real estate by two or more persons although they have a unity of possession they each have separate and distinct titles in the event that one of the tenants in common dies his or her title passes not to the other tenant in common but to his or her estate or heirs joint tenancy is a form of ownership in which the tenants owned a property equally if one dies the other automatically inherits the entire property