TIC / Tenants-in-Common Ownership

Tenants-in-common (TIC) or tenancy-in-common is a co-ownership method giving sellers the opportunity to sell a property as multiple units to achieve greater profit and it gives buyers the opportunity to acquire an interest in a larger property that they otherwise could afford.

TIC is often thought of as a type of property but actuallly it is how ownership (title) is held. Any type of property can be held as TIC.

Typical TIC Ownership Scenarios

Examples for Sellers

Examples for Buyers

Issues to consider

Misconceptions and Myths

Co-owners do not incur liablity for the debts of other owners and the owners do have the ability to decide issues regarding their property. If you hear differently, question the source. Compare TIC to owning a condo — you are not responsible for the debts of other condo owners in the neighborhood and condo owners can have a say in the running of their neighborhood throught their homeowner association.

Time and Costs

A basic equity-sharing agreement involves answering some questions, will cost approximately $1,500, and typically takes a week or two. On the other hand, taking a state-regulated offering from concept to market can take six to eight months for approvals and will cost approximately $15~20,000.

For More Information

TICs are an excellent way for sellers to maximize profit and gives buyers additional options for purchasing properties that might otherwise be out of reach. We have excellent resources for TIC sellers and buyers. For more information, contact Steve.

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