Tenants in Common (TIC) can be a good idea depending on your goals and relationship with the other owner(s). Under TIC, each co-owner holds an individual share of the property that can be unequal.
When is Tenants in Common a Good Idea?
Under TIC, one owner might own 60% and the other 40%, reflecting their financial contributions. This flexibility makes it attractive for investment properties, business partners, or co-buyers who contribute different amounts.
Each tenant can sell, transfer, or bequeath their share independently, meaning your ownership doesn’t automatically pass to the other co-owners upon death.
However, there are important drawbacks;
There is no right of survivorship, so your share goes to your heirs or estate, which can complicate ownership if an heir inherits and doesn’t share the other tenants’ goals.
Disagreements over property use, maintenance, or selling can arise because each co-owner has full rights to their share but undivided rights to the whole property. This lack of consensus can lead to disputes or even court-ordered partition actions, forcing a sale.
Financially, all co-owners are generally jointly liable for mortgages, property taxes, and costs if one tenant fails to pay, the others may have to cover the shortfall. This joint responsibility increases risk compared to sole ownership.
I hope this helps!
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Is Tenants in Common a Good Idea?
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2026-01-11T19:07:06+00:00 2026-01-30T19:00:44+00:00Comment
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