TIC: What Is It?

TIC stands for "Tenancy In Common". It is a form of concurrent estate where each owner is the legal owner of separate and distinct shares of a given property. These shares may differ is size and value. A TIC will also be referred to by the terms "fractional ownership" or "cotenancy". Tenants in common have no right of survivorship. This means that if an owner dies their TIC shares will be passed to their heirs (or whoever they designate in their will) as opposed to the other TIC owners. Do not confuse a TIC with a "joint tenancy" as a joint tenancy HAS rights of survivorship, meaning of course that upon death the ownership shares pass to the other owners.

TIC's are increasingly more common in San Francisco due to the high cost of real estate and the limited supply of single family homes and condominiums. Numerous organizations, formal and informal, exist to match up prospective TIC owners. Vacation and second home buyers also frequently use tenancy in common as the mode of ownership due to its fractional ownership benefits.