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When you enter into a sales contract, it`s important to understand the terms and conditions of the tenancy. The default tenancy stated in a sales contract typically refers to the type of ownership and occupancy rights that are granted to the buyer. In other words, it outlines who has the right to use and occupy the property and how long they can do so.

The default tenancy stated in a sales contract can vary depending on the type of property being sold, the state and local laws in which the property is located, and any agreements made between the buyer and seller. However, there are several common types of tenancy that are often used in sales contracts:

1. Sole ownership: This type of tenancy is where one person or entity owns the property outright. They have the right to use and occupy the property, and can sell or transfer their ownership as they see fit.

2. Joint tenancy: In a joint tenancy, two or more people own the property together, with each person having an equal share. If one owner passes away, their share of the property automatically passes to the other owner(s) without going through probate.

3. Tenancy in common: Tenancy in common is similar to joint tenancy, but each owner can have a different share of the property. If one owner passes away, their share of the property is passed on to their heirs through their estate.

4. Tenancy by the entirety: This type of tenancy is only available to married couples. Both spouses have an equal share of the property, and if one spouse passes away, their share automatically passes to the surviving spouse without going through probate.

It`s important to note that the default tenancy stated in a sales contract can be changed by negotiation between the buyer and seller. For example, if two people who are not married are buying a property together, they may choose to have a tenancy in common rather than a joint tenancy.

In addition to the type of tenancy, the sales contract will also typically include other terms related to occupancy, such as the length of the lease or the period of ownership. It may also include language around the responsibilities of the buyer and seller related to the property, such as who is responsible for repairs and maintenance.

Overall, understanding the default tenancy stated in a sales contract is an important part of ensuring that you understand your rights and responsibilities as a property owner. If you have questions about the tenancy outlined in your sales contract, it`s always a good idea to consult with a real estate lawyer or other professional to ensure that you fully understand the terms of the agreement.