A legal arrangement by which property is owned by more than one person. Co-ownership can take several forms, including tenancy in common, joint tenancy, community property, partnership, and limited liability company (LLC).
Fractional interest involves ownership of some but not all of the rights in real estate, such as easements, hunting rights, and leasehold interests.
Tenancy in Common (TIC) involves the ownership of real property by two or more individuals where each has an undivided interest in the property, and unlike other forms of co-ownership, it does not include the right of survivorship.
Tenancy in Common (TIC) is a form of ownership arrangement in which two or more individuals hold an undivided interest in property. TICs can also facilitate tax-free exchanges under Section 1031, although some investors feel the value received may not always be adequate.
Undivided interest describes an ownership right to use and possession of a property that is shared among co-owners, with no one co-owner having exclusive rights to any portion of the property.
