What does TIC stand for?

Asked by Tatyana, Rancho Santa Fe, CA Wed Dec 4, 2013

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9
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Wed Dec 4, 2013
TIC is a form of vesting title to property owned by any two or more individuals in undivided fractional
interests. These fractional interests may be unequal in quantity or duration and may arise at different times. Each tenant in common owns a share of the property, is entitled to a comparable portion of the income from the property and must bear an equivalent share of expenses. Each co-tenant may sell, lease or will to his/her heir that share of the property belonging to him/her. For example: Bruce Buyer, a single man, as to an undivided 3/4 interest and Penny Purchaser, a single woman, as to an undivided 1/4 interest, as tenants in common.
1 vote
Thanks for that explanation.
Flag Wed Dec 4, 2013
Phil Rotondo, Agent, Melbourne, FL
Wed Dec 4, 2013
1 vote
Kevin Sander…, Agent, San Diego, CA
Wed Dec 4, 2013
Tenants in Common
Does that make sense?
Where did you see it?

Kevin Sanderlin
Keller Williams Realty
Cell 858-212-4702
kevinsanderlin@gmail.com
1 vote
Media Fettin…, Agent, San Diego, CA
Thu Dec 19, 2013
Hello Tatyana,

Hopefully your agent would be available to guide you through these terms and all other hurdles you will encounter when buying a house. If you don't have an agent representing you, please feel free to contact me anytime as I'm happy to help.

Warm Regards,

Media Fettinger
Realtor
Century 21 Award
MFettinger@Century21Award.com
0 votes
fredeckert, Agent, San Diego, CA
Wed Dec 4, 2013
TIC can also mean a type of real estate investment, meaning buying part of say a shopping center or apartment building. Like a REIT (real estate investment trust).
0 votes
JR Thrasher, Agent, San Diego, CA
Wed Dec 4, 2013
Tenants in common.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
0 votes
Tracy Marche…, Agent, Oklahoma City, OK
Wed Dec 4, 2013
Tenants in common, go over the details with your agent.
0 votes
Daniel Lehman, , San Diego County, CA
Wed Dec 4, 2013
Tenants in common. It is a way of holding title, such as joint tenants, single man/woman, married sole and separate, in a trust, etc...
0 votes
Trevolyn Hai…, Agent, Highland, CA
Wed Dec 4, 2013
...Or maybe they meant to write TLC?
0 votes
And could also be: Tenant Income Certification
Flag Wed Dec 4, 2013
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