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Tenants in common agreement

 
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Tenants in common agreementPOA

A tenants in common (‘TIC’) agreement outlines the terms and conditions relating to the ownership of real property that is owned as tenants in common. A TIC agreement can provide certainty in situations such as where one co-owner wants to sell at a price that the other co-owner does not agree to. The TIC agreement has a process to overcome deadlocks and disputes in arriving at fair market value.

Our TIC agreement package covers, amongst other things, death, disablement, compulsory and voluntary sales. The package includes:

  • detailed agreement;
  • detailed explanatory memo;
  • covering letter; and
  • trustee resolutions.

See our article here for more information on the benefits of this type of agreement:
https://www.dbalawyers.com.au/investments/should-an-smsf-have-a-tenants-in-common-agreement/

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