The What
What Is Tenants in Common?
TIC is a hybrid form of ownership in which each title owner owns a percentage of the entire property, with exclusive rights to one unit.
The Why
Why choose Tenants in Common?
TIC ownership offers buyers the opportunity to hold title at an affordable rate, while building equity and financial security. TICs are often below market rate due to limited financing available.
The Difference
What are the differences between condo ownership and TIC ownership?
Ownership
TIC owners hold title with other owners (2+) and own a percentage of the property; condo owners hold title to their individual unit.
Lending
There are currently two lenders that finance TICs in LA; condos are available with conventional home loans from most banks and lenders.
Taxes
Each TIC owner pays for their own fraction of the tax bill; condo owners each receive their own tax bill separate from the building.
The How
How do you finance a TIC?
TICs are only financed via fractional financing. Sterling Bank and National Cooperative Bank are the only two lenders offering fractional loans at the moment.
