TIC* 101 for REALTORS by Jeff Riddell
What’s a TIC? TIC stands for tenant-in-common. Tenant-in-common is a way for multiple owners to own real estate. Each tenant-in-common owns an undivided interest in the real estate that all the tenants-in-common own together. If two people own and no percentages are shown in the deed, they are presumed to be 50/50 owners. 50/50 or other percentages can be specifically stated in the deed by which the tenants-in-common take title. This form of ownership of real estate is nothing new, in fact it is ancient.
Sunday, November 9, 2008
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