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Tenancy In Common

Hands holding up a miniature wood house


  • Tenancy In Common is a legal agreement in which two or more parties share ownership rights in a real estate property or parcel of land.
  • Owners share interests and privileges in all areas of the property, however, each tenant can own a different or equal percentage or proportional financial share of the property.
  • TIC agreements can be created at any time and an individual can join as an interest even after other owners have entered into a TIC agreement. They can also independently sell or borrow against their portion of ownership.


  • If a tenant in common dies, the other TICs have no right of survivorship (unlike Joint Tenancy). The property share of the deceased passes to their estate where a beneficiary may be named.
  • TIC agreement does not legally divide a parcel of land or property so TICs will receive a single property tax bill. TICs are usually imposed with a joint-and-several liability on the tenants where each owner may be liable for the full amount of the property tax regardless of level of percentage of ownership.



  • Easier to enter the real estate market for those that can’t afford on their own or don’t have a spouse/partner
  • Different degrees of ownership makes it a flexible investment
  • Dividing mortgage payments, deposits, closing costs make it less expensive for the individual buyer


  • All tenants equally liable for debt and taxes regardless of ownership percentages
  • No automatic survivorship rights, in the event of a tenant dying the remaining tenants may own a property with someone they don’t know
  • Maintenance and care are divided evenly despite ownership share, minority owners may misuse the property


  • A great option to consider for those that want to get into the market but can’t afford to purchase on their own or with a partner
  • Needs to be done with reliable people you can trust
  • Have an air tight agreement that maps out the fractional interests, property tax payments, monthly bill payments, what to do in the event of a death, if one member wants to sell, cost of any renovations or repairs that need to be done, etc.
  • Always, always, always get advice from your lawyer