Where a tenancy in common exists, each co-owner holds a quantified proportion of the beneficial interest which is capable of being disposed of inter vivos or by will or passes on the intestacy of the deceased tenant in common. The proportionate share in the property which belonged to a deceased tenant in common is subject to inheritance tax rules. The proportionate shares of each tenant in common should be expressly agreed and recorded in a deed of trust (or certified copy transfer) which is signed by the co-owners. In unregistered land an express declaration as to the proportionate shares
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