WHAT IS A TIC?

there will be many references to "TICs" so i would like to provide you with a great explanation:

The Following Article is Generously provided by:

SIRKIN & ASSOCIATES (415) 738-8545 The Shared Ownership Experts.

Tenancy In Common (TICs) With Exclusive Occupancy.

Tenants in Common (TIC) ownership is often paired with a tenants in common agreement (TIC Agreement) under which each owner receives the exclusive right to occupy a particular space within the co-owned property. The assigned spaces may be apartments within an apartment complex or building, houses on a single lot, rooms within a single house, offices within an office suite or office building, storage areas within a warehouse, or any other part of a residential or commercial property. We have even created space-assignment tenancies in common for a horse stable, a marina, and a yurt commune. Assigning occupancy rights in a tenancy in common agreement allows a Realtor, seller, project sponsor, or co-owner group to create an arrangement that feels and acts like a subdivision even though actual legal subdivision is impossible, unaffordable, or too time-consuming. To learn more about TIC legal services offered by Sirkin Paul Associates, visit Our Services.

TICs with assigned occupancy rights should not be confused with TICs that do not involve occupancy rights (including TICs formed for 1031 tax deferred exchanges) because the important issues and questions are very different. For information on TICs without occupancy rights, visit our real estate investment page. The articles, links and resources on this page relate specifically to tenancy in common arrangements involving exclusive occupancy rights.