What type of ownership permits a party to have unequal interests in a property?

The correct answer highlights the concept of Tenants in Common, which allows for unequal ownership interests in a property among co-owners. In this form of ownership, each tenant can own a different percentage of the property, reflecting the varying contributions or agreements made during the acquisition of the property.

For example, if one tenant invests a larger amount of money than the others, they can hold a greater percentage ownership. This flexibility in the distribution of interests is a key characteristic of Tenants in Common, making it distinct from other ownership types.

In contrast, Sole Ownership allows for only one individual to own the property entirely without sharing any interest with others. Joint Tenancy requires that all tenants hold equal shares and include the right of survivorship, meaning if one owner passes away, their share automatically transfers to the surviving owner(s) equally. Tenants by the Entirety is a special form of joint ownership available only to married couples, where both spouses hold equal interest in the property, also featuring right of survivorship.

Thus, Tenants in Common stands out because it explicitly permits individual ownership shares that do not have to be equal, reflecting the diverse financial and ownership arrangements that can occur among co-owners.