Introducing the TIC — Tenants in Common
What are TICs and what’s so special about them?
Tenants in Common
Tenants in common co-own a property together, and are allocated a percentage of the property that makes up their individual unit.
Check out current TICs for sale here!
What does that mean?
This means that you can buy a fraction of a property with others under a special TIC contract (we call this contract the ‘TIC Agreement’). This allows for you to sell or leave your portion of the property to someone else, without needing to involve the rest of the owners.
Why are TICs so hot right now?
TICs are rental communities converted to home-ownership communities. These new communities are offered at 15–20% below market rate, due to the limited financing options available today. These communities are developed with everyone in mind for a harmonious community lifestyle.
What is a TIC and why does L.A. have it?
TIC stands for Tenants in Common. If you have ever owned a home you may have heard of Joint Tenants and Sole Proprietorship. Sole Proprietorship is what it sounds like, one person owns the property completely and can leave the property to…
