In a Tenants in Common (TIC) structure an investor owns an undivided fractional interest in real property and shares pro-rata in all the expenses and income of the property as well as depreciation benefits. TIC real estate investors receive a recorded deed for their fractional interests in the property. 1031 exchange investors may find suitable replacement property in the form of tenants in common ownership. TIC offerings are often pre-arranged with financing allowing for a simpler and faster closing of 1031 exchange replacement property.
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The acronym “TIC”, which stands for tenancy in common and tenants in common, refers to arrangements under which two or more people co-own a parcel of real estate without a “right of survivorship”. This type of co-ownership allows each co-owner to choose who will inherit his/her ownership interest upon death. By contrast, the type of co-ownership called “joint tenancy” requires that each co-owner’s interest pass to the other co-owners upon death. The broader terms “fractional ownership”, “shared ownership, and “co-ownership” encompass all arrangements involving two or more owners, including tenancy in common and joint tenancy. Learn more about the potential benefits of TIC investments for 1031 Exchange and common TIC questions investors ask.
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