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Corncurl, Home Buyer in Waikiki, Honolulu, HI

What does TIC mean?

Asked by Corncurl, Waikiki, Honolulu, HI Thu Sep 2, 2010

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6
"TIC" is an acronym for Tenants in Common: Where you own a "fraction" of the whole. I hope this helps :)
1 vote Thank Flag Link Thu Sep 2, 2010
Here is another helpful article:

http://www.tenantincommon1031.com/tic-financing.php

Aloha,
Frank
0 votes Thank Flag Link Wed Sep 29, 2010
Tenants in Common, it's a way to hold title. It is very popular in San Francisco. You could go to http://www.sirkin.com for information but it will be speaking to the SF audience. I was not aware that it had spread to Hawaii
0 votes Thank Flag Link Wed Sep 15, 2010
Comcurl,
Tenancy in common is one way of holding title to a property. There are other options as well. It is best advised to speak with a lawyer regarding which option works best for you and the others who share title. If you hold title alone, it's not an issue. Please see the link for a complete explanation of each method.
aloha,
Georgina Hunter
0 votes Thank Flag Link Wed Sep 15, 2010
Great answer David! You took the words right out of my mouth.
0 votes Thank Flag Link Tue Sep 7, 2010
Hi Corncurl,

This hasn't caught on very much in Hawaii. It was widely used on the mainland the last 10 years, however. You could say it's a fractional interest in a property. Sometimes it is used for trusts, or partnerships, however a TIC could be an individual that owns 1/4th of a property, for example. I'm sure the concept will become popular again, because it is a terrific way to own part of a property, especial commercial properties.

Aloha,
Frank
Web Reference: http://www.hawaiihome.biz/
0 votes Thank Flag Link Thu Sep 2, 2010
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