1031 Transactions and Tenancy-in-Common Exchanges

A tenancy-in-common (“TIC”) is a type of property ownership in which each owner is deemed to individually own an entire parcel of property. A fundamental characteristic of a TIC is that each owner is entitled to possess the entire property, has rights to the rents and profits in their proportional share of ownership, has the right to transfer the interest, and has the right to demand partition of the property.