Characteristics of ownership in common

(1) Where any land, lease or charge is owned by two or more persons in common, each such person is entitled to an undivided share in the whole, and on the death of any such person, his share shall be administered as part of his estate. An owner in common shall be entitled only to a share, corresponding to his undivided share in the land, of the net proceeds of sale of the whole and to any rents or profits until sale of the whole, but shall not be entitled to deal with his undivided share under this Act. (2) Persons described in any instrument relating to any land, lease or charge as owners in common shall, in the absence of any expression to the contrary, be presumed to be entitled in equal shares.