Net lease glossary
Tenant-in-Common (TIC)
A form of co-ownership where each investor holds an undivided fractional interest in the same property and can sell or exchange it separately.
A tenancy-in-common lets two or more owners hold undivided fractional interests in one property. Each co-owner receives a separate deed interest, which can qualify for a 1031 exchange. TIC structures are used when partners want to exchange into a single net lease asset together or split out of a partnership. Major decisions such as selling, refinancing, or re-leasing generally require unanimous consent, which can complicate management and exits.