What type of ownership allows for equal ownership split between two or more people?

The correct choice is tenancy in common, which stipulates that two or more individuals own a property jointly, each having an equal share or ownership interest. This form of ownership allows each owner to possess a distinct percentage of the property, which may not necessarily be equal, but it commonly is associated with equal ownership splits. Importantly, in a tenancy in common, each owner's share can be sold, transferred, or inherited independently, providing flexibility in how ownership can be handled over time.

The nature of ownership in tenancy in common contrasts with other forms of concurrent ownership. For instance, joint tenancy includes the right of survivorship, meaning that when one co-owner dies, their interest automatically transfers to the surviving co-owners, which is not the case in tenancy in common. Tenancy by the entirety is a specific type of joint tenancy that can only be established between married couples and offers additional protections from creditors. Ownership in severalty pertains to a single individual owning a property fully and independently without any co-owners.

Thus, the defining feature of tenancy in common being the equal (or agreed upon) split of ownership among multiple owners makes it the correct choice for this question.