{"id":10063,"date":"2019-10-08T21:21:28","date_gmt":"2019-10-08T10:21:28","guid":{"rendered":"http:\/\/www.dbalawyers.com.au\/?page_id=10063"},"modified":"2022-08-15T13:34:15","modified_gmt":"2022-08-15T03:34:15","slug":"tenants-in-common-agreement","status":"publish","type":"page","link":"https:\/\/www.dbalawyers.com.au\/tenants-in-common-agreement\/","title":{"rendered":"Tenants in common agreement"},"content":{"rendered":"

Click to order here<\/span><\/strong><\/a><\/p>\n\n\n\n\n\n
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Description<\/th>\nPrice<\/th>\n<\/tr>\n<\/thead>\n
Tenants in common agreement<\/td>\nPOA<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

What is a tenants in common agreement?<\/h3>\n

A tenants in common (TIC<\/strong>) 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.<\/p>\n

Our TIC agreement package covers, amongst other things, death, disablement, compulsory and voluntary sales.<\/p>\n

TIC Agreements and SMSFs<\/h3>\n

It is increasingly common for SMSF trustees to hold property with others to increase the funds available to invest and to minimise risk. An SMSF trustee will usually hold a part interest in real estate as tenants in common with the other co\u2011owners. However, it is important that each SMSF trustee is aware of the pros and cons of co-investment and the consequences that may arise when things don\u2019t go as planned or if a disposal or exit from a jointly held investment is needed. A TIC is recommended to place the relationship at arm\u2019s length and provide greater certainty to minimise the risk of costly and protracted disputes.<\/p>\n

What\u2019s included<\/h3>\n