What is the most likely outcome if ownership among three parties is held as Tenancy in Common and their specific share of ownership has not been stated?

In a Tenancy in Common arrangement, if the specific shares of ownership are not stated, the presumption is generally that the co-owners hold equal undivided shares in the property. This means that each party has an equal right to possess and use the entire property, regardless of the financial contributions made towards the purchase or maintenance of the property.

This principle is rooted in the idea that unless explicitly specified, any deviation from equal ownership is not legally recognized. Therefore, in the absence of such specifications, the assumption is made that ownership is indeed equal among all parties involved. In situations where contributions or ownership percentages need to be differentiated, such stipulations must be expressly documented in order to be acknowledged legally.

The other outcomes presented do not align with standard interpretations of a Tenancy in Common when specific shares are not mentioned, hence they would not be correct within the context provided.