Tenants in common is a joint account where the asset of a party who has died transfers to the decedent’s estate, not the other tenant.
Applying "Tenants in common" to Securities Exams:
Joint accounts may be opened for any two or more competent adults. Joint accounts are never allowed to be opened for an adult and a minor. In the case of JTIC if one of that parties dies the assets become the propert of their estate not of the other owner or tenant in the account.