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uk â /ËtenÉnt/ us â LAW, PROPERTY. âº a person or organization that uses a building or land and pays rent to its owner: We are hoping to lease the four-story building to a single tenant when it's completed this fall. Both parties, landlord and tenant, will be bound by any express terms in the contract.
Another difference between tenants in common and joint tenants or tenants by the entirety is that tenants in common may hold unequal interests. By contrast, joint tenants and tenants by the entirety own equal shares of the property.n the context of concurrent estates, however, a tenant is a co-owner of real property. All tenants in common hold an individual, undivided ownership interest in the property. This means that each party has the right to alienate, or transfer the ownership of, her ownership interest.