|Tenants in common agreement||POA|
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: