Like-kind property refers to properties that are of the same nature or character but may differ in grade or quality. In terms of taxation, like-kind properties can be exchanged without triggering immediate tax liabilities, typically under IRS Section 1031.
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.
