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Tenancy in Common

A way for two or more persons to own property together. Tenants in common may own equal or unequal shares of the property, and there are no rights of survivorship. That is, when one of the co-owners dies, his/her share of the property becomes part of his/her estate and passes on to heirs. This is an arrangement common in joint business ventures: if two persons own an apartment complex and one of them dies, his/her share of the complex passes to his/her beneficiaries and does not pass to the other co-owner.

TICs (tenant in common properties)

Almost always pronounced as a word and very rarely called “tenant in common properties.”Investment vehicles that allow persons to buy fractional shares of real estate interests directly,rather than shares of stock,bond certificates,or other intermediate ownership mechanisms.The property may be a high-rise office building on the other side of the country, a retail center,a triple-net lease from a national drugstore chain,oil or gas wells,or any other investment properties. Because of securities and tax law limitations, no more than 35 investors may be involved to jointly own the properties. It allows them to invest in high-quality property that would ordinarily be outside their budgets—most properties that are “tic-ified”cost $30 million or more.

The industry has grown from virtually nothing in 2002—when an IRS ruling clarified the status of such an investment—to many billions of dollars of properties today. An investor has the ability to invest in a TIC as a replacement property in a 1031 exchange.

References in periodicals archive ?
For most children, a comorbid problem - typically attention-deficit/hyperactivity disorder - causes more impairment than their tics.
You should also be sure that the TIC sponsor is qualified, experienced, and has a strong track record.
With a TIC, each owner holds title to a fractionalized share of a property that the owner may sell, give or bequeath.
Most people with TS and other tic disorders will lead productive lives.
The goal was to increase the clonidine dosage until the tics stopped or side effects developed.
Hair pulling was associated with intellectual activity and onset of eye tics seemed to occur more during socialization.
Moreover, 21 children had at least one family member with a history of a motor or vocal tic.
He said that the facial tics had started around age 9 or 10 years after he had been sick with a bad sore throat.
Sperry Van Ness has just produced a white paper is to explore the pros and cons of the TIC investment.
Kiessling speculates that such antibodies travel to the brain, where they attach to receptors on certain neurons, somehow causing motor or vocal tics.
Investors, attorneys, lenders, brokers and others with an interest in this investment strategy can find out how TICs work at an "Anatomy of a TIC" seminar, sponsored by the Real Estate Center at Texas A&M University.
To enhance outcome, go for the comorbidity; don't go for the tics," said Dr.