Tenant in Common Definition  |  TIC

Tenant in Common Definition  |  TIC - "Tenant in Common," also termed "Tenancy in Commons" and "TIC" is the co-ownership  in real estate (CORE) in which two or more investors hold an undivided interest in a given property. The ownership interest can be either the same or varying amounts. Each "tenant" has unrestricted rights of access to the property that is the same as the other tenants. Each tenant in common can petition for and secure a division (or partition) of the property at any time.

Tenancy in common  has been around for hundreds of years, dating back to Old English Common Law. Today, thanks to IRS and SEC laws in its favor, tenancy in common is a valid investment option with many benefits for investors.

1031 Exchange Tenant in Commons Facts

• There is a limit of 35 investors in a TIC investment.

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Joint Tenant in Common

There are two ways to co-own property: Joint tenancy and Tenancy in Common. The difference between the two involves title ownership. In joint tenancy, the investors have collective ownership of the property. In tenancy-in-common, the investors have individual ownership of the property.

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Tenant in Common 1031 Exchange

The Tenant in Common property ownership arrangement plays heavily in the 1031 Exchange arena, whereby sellers of property can defer taxation if they exchange their ownership interests for like-kind property.

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Alternatives to Joint Tenant in Common Ownership

Many 1031 Exchange investors are unaware of the sound alternatives available to straight TIC property ownership. A sound investment in the oil & gas royalties, for example, provides the investor with the ongoing income, solid returns and low upkeep costs that can allude the tenant in common investment.

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Tenant in Common Property Ownership Drawbacks

While the 1031 TIC option is a viable option to many investors, there are some issues worth considering prior to investing in TIC property.

1031 Exchange - Tenant in Common 1031 TIC Exchange

Much of the 1031 Exchange activity involves "tenant in common or TIC" real estate transactions in which a fractional owner of a piece of real estate sells his or her interests in the property. In an effort to defer the immediate payment of taxes, the investor takes advantage of the 1031 Exchange provisions by exchanging the proceeds from the sale of the property for a "like-kind" property.

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Tenant in Common Properties  |  TIC

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