Tenancy In Common


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Tenancy In Common

Description: Tencancy in Common is when two or more parties have joint ownership of an undivided interest in real property. Tenants in common may sell their shares to another party. If a tenant dies, their share goes to their heirs, as opposed to joint tenancy, where the property goes to the other tenants/ owners. An undivided interest means that each owner has a percentage ownership of the entire property, not ownership of a specific part of the property.</p> <p>TIC's are common with investment properties. TIC's allow people to purchase a small share of a large investment property, such as an office building or shopping mall. Triple net lease properties are also popular. No more than 35 investors may jointly own one property due to tax laws. This industry has grown substantially in the past few years.</p>



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