Which form of property ownership allows for proportional ownership by multiple parties?

Tenancy in common is the correct answer because it specifically allows for multiple parties to hold proportional ownership interests in a single property. Each owner, or tenant in common, can own a different percentage of the property, which may reflect their contribution to the purchase price. This form of ownership does not impose rights of survivorship; meaning if one owner passes away, their interest in the property can be passed on to heirs rather than automatically transferring to the other co-owners.

In contrast, severalty refers to ownership by a single party, thus not enabling proportional ownership by multiple parties. Joint tenancy involves multiple owners as well, but it includes a right of survivorship, which means that if one owner dies, their share is automatically transferred to the remaining joint tenants, preventing proportional shares from being inherited by heirs. Community property is specific to married couples in certain jurisdictions, regarding property acquired during the marriage, and does not apply to multiple unrelated parties. Thus, tenancy in common is the only option that distinctly facilitates shared, proportional ownership among multiple individuals.