What describes ownership by more than one person where owners may have unequal shares?

Ownership by more than one person where owners may have unequal shares is best described as Tenancy in Common. In a Tenancy in Common, each co-owner (or tenant) has the right to possess the entire property, but they can own different percentages of the property. This allows for flexibility in ownership structure, meaning one owner could hold a 50% share, while another might own 30%, and yet another could own just 20%. Each co-tenant can independently sell or transfer their share without needing the consent of the other owners, which adds to its appeal.

This form of ownership contrasts with other types like Joint Tenancy with Right of Survivorship, where ownership is typically equal among the tenants and includes rights that automatically transfer to surviving owners upon the death of a tenant. Estate in severalty refers to sole ownership by one individual, and Undivided Interest often describes a situation where multiple owners have an equal right to the entire property, but does not specify unequal ownership shares.