Tenancy In Common (TIC)

Tenancy In Common (TIC) is a form of property ownership in which two or more individuals or entities hold an undivided interest in a property, with each having the right to use, occupy, or transfer their share independently. TIC ownership allows for fractional ownership of real estate, enabling multiple parties to invest in and co-own a property without the need for joint ownership or consent. TIC arrangements are governed by legal agreements outlining rights, responsibilities, and dispute resolution mechanisms.