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Tenants in common (TIC) is a type of joint ownership which allows two or more people to own real estate together. Laws in certain states declare that two unmarried individuals own property as tenants in common unless they have agreed to a different form of ownership in writing. Under TIC deeds, the tenants all equally retain the right to access and possess the property.
Clear Answers and Explanations on Tenancy In Common (TIC) By Andy Sirkin (5/19/11) What is a tenancy in common (TIC)? The acronym âTICâ, which stands for tenancy in common and tenants in common, refers to arrangements under which two or more people co-own a parcel of real estate without a âright of survivorshipâ. This type of co-ownership allows each co-owner to choose who will inherit his/her ownership interest upon death.