Tenancy in Common (TIC)
A tenancy in common is a co-ownership form where each co-owner holds an undivided interest in the property, often without survivorship rights, and each interest is generally transferable. TIC interests can be conveyed by deed and appear in vesting/recording like other ownership interests.
- Where it applies
- Generally, not specific to New York
- When it comes up
- Ownership structuring; conveyance; partition risk
- Property types
- Residential multi-owner; family ownership; commercial co-ownership
Read more in the Knowledge Base
Ownership Structures
General information, not legal, tax or financial advice.