What is the essential characteristic of tenants in common regarding asset distribution after death?

In a tenants in common arrangement, each co-owner holds a distinct share of the property, which does not automatically transfer to the other owners upon their death. Instead, the share owned by the deceased individual becomes part of their estate and is distributed according to the deceased's estate plan, whether that is through a will or according to intestacy laws if no will exists. This means that each owner's share can be inherited by their chosen heirs or beneficiaries, allowing for more personal control over the distribution of assets after death.

The correct answer reflects the fundamental principle of how tenants in common share ownership is treated in the event of an owner's death, emphasizing the importance of individual estate plans in directing the fate of the decedent's property.