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https://learn.robinhood.com/articles/1UheRTl75c6MYU3cq0yACI/what-is-tenancy-in-common-tic/

What is Tenancy In Common (TIC)? Tenancy in Common (TIC) is an ownership arrangement where multiple people own a property, but not all of the shares must be equally sized. The owners are also permitted to transfer their ownership stake to other people freely.

AsseTrust is real estate management firm specializing in Proprietorship in Common investment. Proprietorship in Common refers to a property ownership and legal structure that allows several people or entities to co own a property undivided and with without rights of survivorship. Undivided means even though co owners have ownership rights, they cannot divide it physically, for instances one owning the kitchen, and another the living room and yet another the bedroom. Rather what they own is a proportion or percentage according to how much each owner invested. Based on this principle income derived from the property (rent) is pro rata or according to the percentage each owner is assigned. The structure does not provide rights of survivorship. Thus upon the demise of co owner his/her percentage/proportion is not inherited by the other co-owners but rather assigned to the next of kin indicated by the dead owner.

AsseTrust manages these relationships as well as the commercialization of these properties.

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