A "tenancy-in-common" is a form of ownership for two or more owners. The individual interests do not have to be equal and the owners enjoy a proportionate right to the property. Tenants-in-common are considered to be direct owners and are listed on the deed. If the tenants-in-common invest in real estate, the owners receive a proportional share of the income, tax benefits, and appreciation of the property. Upon the death of one of the owners of a tenancy-in-common, title passes to the estate of the deceased owner rather than to the other owners in the tenancy-in-common. The beneficiary named in the will assumes the decedent's proportionate title to the property and becomes the new tenant-in-common along with the surviving tenants-in-common.