Quick Definition

Tenancy in Common (TIC) is a form of property ownership where two or more individuals co-own real estate with individual, undivided interests that can be of unequal size and can be freely transferred.

Examples

• 1Three friends purchase a vacation home together as tenants in common, where one owns 50% and the other two each own 25%.
• 2A couple buys an investment property with a business partner. The couple owns 70% of the property, and the business partner owns 30%, all under a TIC agreement.
• 3After inheriting a large piece of land, siblings decide to hold the property as tenants in common, each owning a share that corresponds to their portion of the inheritance.

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