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<b>Tenancy-In-Common (group ownership) Definition:</b>

<p>

Tenancy-In-Common (TIC) stems from traditional tax deferred IRC 1031 Real Estate Exchanges, allowing real estate investors to exchange into a <u>Percentage Interest Ownership</u>, or <u>Fractionalized Unit Ownership</u> (up to 35 individual owners) of a "like-kind" asset. Each unit holder will receive a pro rata share of the property's net income, tax shelters/benefits and property appreciation.