A Tenancy in Common (TIC) is a form of property ownership where two or more people share ownership of a property, but each owner holds a separate, undivided interest in the whole property.
Here’s what that means in simple terms:
Key Features of a Tenancy in Common
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Ownership shares can be unequal
One owner might have 60%, another 40%, etc. -
Each owner can sell or transfer their share independently
You don’t need the other owners’ permission to sell your portion. -
No right of survivorship
If one owner passes away, their share goes to their heirs—not automatically to the other owners. -
Shared use of the entire property
Even though ownership percentages differ, all owners typically have the right to use the whole property unless otherwise agreed.
TICs in San Francisco
In San Francisco, TICs are especially common in multi-unit buildings where buyers purchase a share of the building and often have exclusive use of one unit. These are popular because they can be more affordable than condos in prime neighborhoods.
Pros
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Lower purchase price than a condo
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Flexible ownership structure
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Potential path to condo conversion (in some cases)
Cons
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Financing can be more complex
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All owners share responsibility for property taxes, maintenance, and insurance
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Disputes can arise without a strong TIC agreement
A well-written TIC agreement is essential—it outlines usage rights, expenses, and exit strategies.
