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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.
Tenants in common hold title on a property together. How you take title to a home is as significant as how you finance the property. Multiple people can take title as joint tenants, tenants in common or community property. Each option has rules and restrictions, but generally, the rules for tenancy in common are less restrictive than other choices. California real estate laws have protections and rules that apply to all property owners.