Think of co-owning a vacation home like being part of a team. For the team to succeed, everyone needs to know their position and the rules of the game. In the world of shared property, the Tenancy in Common (TIC) agreement is your official rulebook. This legal contract lays out everything in black and white, ensuring every owner understands their rights, financial responsibilities, and how to share the space fairly. It’s a proactive tool designed to prevent misunderstandings before they start. With a solid TIC agreement in place, you can leave the guesswork behind and focus on the win: creating lasting memories.
Key Takeaways Clarity is the foundation of co-ownership : A Tenancy in Common (TIC) agreement serves as a detailed roadmap for your shared home, outlining financial responsibilities, scheduling rules, and a plan for resolving disagreements before they arise.Your ownership is an asset you control : Unlike other shared ownership structures, a TIC treats your share as your personal property, giving you a clear exit strategy and the freedom to pass your portion on to your family.It makes dream homes more accessible : By allowing you to purchase a share of a property, the TIC model lets you enjoy a premium vacation home and its amenities while only being responsible for a fraction of the total cost.What is a Tenancy in Common (TIC) Agreement? If you’re exploring shared vacation home ownership, you’ll definitely come across the term “Tenancy in Common,” or TIC. It might sound like complex legal jargon, but the concept is actually pretty straightforward. A TIC is a legal arrangement that allows multiple people to own a single property together, and the agreement is the document that outlines how it all works. It’s the foundation that makes a smooth, enjoyable co-ownership experience possible.
Think of it as the official rulebook for your shared home. It ensures every owner is on the same page about their rights, responsibilities, and how the property will be managed and used. This clarity is what allows you to focus on what really matters: making memories with your loved ones.
The Basics: What It Is and How It's Structured A Tenancy in Common agreement is a legal contract between co-owners of a property. This is the core of the Fraxioned co-ownership model. Unlike other forms of ownership, a TIC allows for unequal shares. One person might own a 1/8 share, while another owns a 1/4 share. Each owner has the right to use the entire property, not just a portion of it, according to the terms laid out in the agreement.
A key feature of a TIC is that there are no "rights of survivorship." This simply means your share of the property is your asset. If something happens to you, your share doesn't automatically go to the other owners. Instead, you can pass it on to your heirs, just like any other property you own.
Why You Need One for Shared Property Ownership A well-drafted TIC agreement is all about setting clear expectations from the start to prevent future misunderstandings. It’s a proactive way to make sure everyone’s experience is positive. The agreement clearly defines everything from paying for utilities and maintenance to scheduling stays, so there’s no confusion down the road.
Without an agreement, it can be unclear who is responsible for what. What happens if a repair is needed? Who covers the property taxes? A TIC agreement answers these questions ahead of time, providing a clear roadmap for every scenario. It lowers the risks of owning property with others and gives everyone a fair, affordable way to resolve any issues that might come up. You can find answers to more specific questions on our FAQ page .
How Does a TIC Agreement Actually Work? A Tenancy in Common (TIC) agreement is the legal document that makes shared home ownership possible. Think of it as the official playbook for you and your co-owners. It lays out all the rules of the game before you even start playing, ensuring everyone is on the same page. This isn't just a handshake deal; it's a detailed contract that protects everyone involved and makes the entire experience smooth and predictable.
The agreement turns the abstract idea of co-owning a home into a practical reality. It covers everything from who pays for what to how you’ll schedule your stays. By defining these details upfront, a TIC agreement helps prevent future misunderstandings. It’s the foundation that allows you to focus on what really matters: enjoying your beautiful vacation home and making memories with the people you love. It's the key to a stress-free partnership because it provides a clear, agreed-upon framework for every situation that might come up. When you know exactly how expenses are split, how maintenance is handled, and how decisions are made, there’s no guesswork involved. You can simply show up and enjoy your time.
Deciding on Ownership Shares One of the most flexible parts of a TIC is that ownership doesn't have to be a 50/50 split. Instead, each person can own a different percentage, or share, of the property. For example, Fraxioned offers co-ownership in shares, such as 1/8 or 1/13. Your ownership share directly corresponds to your financial contribution, your portion of the operating costs, and the amount of time you get to use the home each year. This structure is what makes owning a luxury vacation home so accessible. You can choose the level of ownership that fits your budget and lifestyle, without having to take on the full financial weight of the property yourself.
Defining Each Co-Owner's Rights and Responsibilities This is where the TIC agreement gets really practical. It clearly outlines every co-owner's rights and responsibilities, leaving no room for confusion. The document details everything from how property taxes and insurance are paid to who handles routine maintenance and unexpected repairs. It also sets rules for using the property, ensuring a respectful and fair experience for everyone. By spelling everything out, the agreement helps prevent disagreements down the road. This clarity is what makes the co-ownership model work so smoothly, giving you a truly hassle-free way to own a vacation home. You can find answers to many common questions on our FAQ page.
Making Decisions Together When you own a property with others, you’ll need a system for making decisions. The TIC agreement establishes this process. For major decisions—like selling the entire property or undertaking a significant renovation—the agreement typically requires a unanimous vote from all co-owners. For day-to-day management, these tasks are often handled by a designated property manager, simplifying things for everyone. The agreement also includes a plan for resolving potential disagreements. For instance, it might outline a "buy-sell" process, which gives one owner a structured way to offer to buy another owner’s share if a major conflict arises, providing a clear path forward.
The Perks of Using a TIC Agreement Let’s talk about the fun part: the real-world benefits of using a Tenancy in Common agreement. This legal framework is what makes shared ownership not just possible, but practical and enjoyable. It’s the key to turning the dream of owning a beautiful vacation home into a reality without taking on all the financial and logistical weight yourself. A TIC agreement is designed to make life easier for everyone involved by providing a clear, fair, and organized way to manage a shared property.
By pooling your resources with other like-minded people, you can access a caliber of home that might otherwise be out of reach. Think of it as the official playbook for your ownership group, ensuring everyone is on the same page about costs, usage, and responsibilities from day one. This structure is the foundation of a modern approach to co-ownership , allowing you to focus less on the complexities of property management and more on making memories with your family and friends.
Share the Costs, Not Just the Property One of the most significant advantages of a TIC is how it divides the financial responsibilities. Owning a home comes with more than just a mortgage; there are property taxes, insurance, utilities, and ongoing maintenance to consider. A TIC agreement clearly outlines how these expenses are split among the co-owners, usually in proportion to their ownership stake. This means you’re only responsible for your share of the costs, making a luxury vacation home significantly more affordable. It removes the guesswork and potential for financial disagreements, creating a transparent system where everyone contributes their fair share to keep the property in perfect condition for every visit.
Own as Much (or as Little) as You Want Unlike other forms of co-ownership that may require equal shares, a TIC agreement offers incredible flexibility. Ownership can be divided into unequal percentages, allowing you to buy a share that fits your budget and how much you plan to use the home. One person might own a larger fraction, while others hold smaller ones. At Fraxioned, for example, you can purchase a 1/8 or 1/13 share, tailoring your ownership to your family’s needs. This approach opens the door to a wider range of people who can enjoy the benefits of a vacation home without overextending themselves financially.
Get Access to Your Dream Vacation Home When you combine shared costs with flexible ownership, something amazing happens: those stunning, out-of-reach properties suddenly become attainable. By pooling your resources with other co-owners, you can collectively afford a more luxurious or better-located home than you likely could on your own. That ski-in/ski-out cabin in the mountains or the serene lakeside retreat you’ve always wanted is no longer just a dream. A TIC agreement is the tool that brings together the resources to purchase these beautiful vacation homes , giving you and your family access to a premium property and a lifetime of incredible experiences.
TIC vs. Other Ways to Own Property When you decide to buy property with others, you have a few legal structures to choose from. Tenancy in Common (TIC) is one of them, but it's not the only one. Understanding how it stacks up against other options, like joint tenancy or just buying a place by yourself (sole ownership), is key to making sure you pick the right path for your situation. Each approach has different rules about what happens if an owner wants to sell, who is responsible for what, and what happens to their share when they pass away.
For a vacation home, these details really matter. You're not just buying a property; you're creating a space for memories with family and friends. The way you own it can affect everything from your financial responsibilities to your ability to pass your share on to your kids. Choosing the right ownership model ensures that the logistics don't get in the way of the fun. Let's break down the main differences so you can see why a TIC agreement is often the go-to for flexible, modern co-ownership. It’s all about finding the structure that gives you both the freedom and the security you need to enjoy your beautiful second home without any headaches.
The biggest distinction between a TIC and joint tenancy comes down to something called "rights of survivorship." In a joint tenancy, if one owner passes away, their share of the property automatically transfers to the surviving co-owners. It’s a "last person standing" setup. A Tenancy in Common works differently. There are no rights of survivorship, which means if you pass away, your ownership stake doesn't automatically go to the other people on the title. Instead, you can decide who inherits your share through your will or estate plan. This gives you control over your asset, allowing you to leave it to your children, a sibling, or anyone else you choose.
Comparing TICs to Sole Ownership Sole ownership is straightforward: you buy the property, and it’s 100% yours. You make all the decisions and cover all the costs. With a TIC, you own a percentage of the entire property alongside others, not a specific, physically divided part. For example, you might own a 1/8 share of a cabin, but you don't own just the master bedroom. Your right to use the cabin for a certain number of weeks each year is outlined in a separate, private contract—the TIC agreement. This written contract is what turns a shared deed into a practical plan for enjoying your vacation home, defining everything from scheduling to sharing expenses.
Understanding Rights of Survivorship Let's focus on this key concept for a moment, because it’s a major factor in choosing an ownership structure. "Rights of survivorship" is a legal term that means when one co-owner dies, their interest in the property automatically passes to the other co-owners, bypassing probate court. This is the defining feature of joint tenancy. A TIC agreement, however, intentionally removes this feature. This separation is a huge advantage for many people. It ensures your share of the vacation home is treated like any other asset you own, giving you the freedom to include it in your legacy planning. It’s a more modern approach that reflects how many families and friends want to share property ownership today.
What Every Solid TIC Agreement Should Include Think of a Tenancy in Common (TIC) agreement as the playbook for your shared vacation home. It’s a private contract between co-owners that lays out all the rules of the game before you even start playing. A well-crafted agreement is the key to a smooth and enjoyable ownership experience, as it clarifies everyone’s rights and responsibilities from day one. It’s designed to prevent misunderstandings down the road by creating a clear, agreed-upon framework for everything from paying bills to booking your next family getaway. With a solid agreement in place, you can focus less on logistics and more on making memories.
Ownership Stakes and Financial Contributions At its core, a TIC agreement clearly defines each owner’s stake in the property. This is usually represented as a percentage, which corresponds directly to your initial financial contribution. For example, if you purchase a 1/8 share of a home, you own 12.5% of the property. This percentage is more than just a number—it’s the foundation for how costs, and sometimes voting rights, are divided among the co-owners. The agreement spells out these details so there’s no ambiguity about who owns what. This clarity is a fundamental part of a successful co-ownership structure, ensuring everyone is on the same page from the start.
Who Pays for What, and When A great vacation home experience is a stress-free one, and that means knowing exactly how shared costs are handled. Your TIC agreement should detail how recurring expenses like property taxes, insurance, utilities, and cleaning fees are managed. Typically, these costs are split proportionally based on each person’s ownership stake. The agreement will outline the payment schedule and process, ensuring all bills are paid on time without any confusion. This proactive approach to budgeting means you can simply arrive and relax, knowing all the financial details are already sorted out. You can find more details on how costs are managed in our FAQ .
Handling Maintenance and Repairs Every home needs a little TLC, and a vacation property is no exception. A solid TIC agreement establishes a clear plan for both routine maintenance and unexpected repairs. It should answer key questions: How are decisions about repairs made? How are the costs approved and divided among the owners? At Fraxioned, we handle all the property management for you, from landscaping to fixing a leaky faucet. Your agreement will reflect this streamlined process, which you can manage through the myFRAX Portal . This takes the guesswork out of upkeep, protecting your shared asset and ensuring the home is always ready for your next visit.
Scheduling Your Stays This is the fun part! Your TIC agreement will include a comprehensive section on scheduling, outlining the rules for booking your time at the home. A fair and equitable system is crucial for a positive co-ownership experience. The agreement typically details how far in advance you can make reservations, how holiday and peak seasons are allocated, and what happens if you need to change your plans. Our dynamic scheduling system is designed to be flexible and easy to use, ensuring every owner gets ample opportunity to enjoy the property throughout the year. This clear set of rules prevents conflicts and makes planning your vacations simple and exciting.
A Plan for Resolving Disagreements Even among friends and family, disagreements can occasionally arise. A strong TIC agreement anticipates this and includes a section on dispute resolution. This part of the contract provides a step-by-step process for addressing conflicts, often starting with informal discussions and moving to mediation if needed. Having a pre-approved plan in place helps de-escalate potential issues and guides everyone toward a fair solution without resorting to costly legal battles. It’s a safety net that protects relationships and the harmony of the co-ownership group, ensuring that small issues don’t become big problems.
Agreeing on How to Handle a Potential Sale Life is unpredictable, and at some point, you or another co-owner may decide to sell your share. The TIC agreement provides a clear and orderly process for this transition. It will specify how a share’s market value is determined and outline the rules for the sale. Often, the agreement includes a "right of first refusal," which gives the other co-owners the first opportunity to purchase the available share before it’s offered to the public. This protects the integrity of the ownership group and provides a seamless exit strategy, making the process of fractionalizing and selling a share straightforward for everyone involved.
A Look at the Financials Talking about money can feel complicated, but a well-structured TIC agreement is designed to make the financial side of co-ownership clear and predictable. It’s all about knowing what to expect from day one so you can focus on planning your getaways, not crunching numbers. Let’s break down the key financial pieces you’ll encounter.
The beauty of a TIC is that it allows you to share the financial load, making that dream vacation home much more attainable. Instead of shouldering the entire cost yourself, you’re splitting it with your co-owners. This approach not only covers the initial purchase but also the recurring expenses that come with homeownership. With a company like Fraxioned, these costs are managed professionally, giving you a transparent view of all expenses without the hassle of managing them yourself. You get all the perks of a vacation home with a fraction of the financial responsibility.
Your Initial Investment Your initial investment is simply the purchase price of your share in the property. Unlike other ownership structures where you might have to split things evenly, a Tenancy in Common lets co-owners hold different ownership percentages. This is the foundation of the co-ownership model. For example, you might purchase a 1/8 share of a home, which means your upfront cost is exactly 1/8 of the total property value. This flexibility allows you to choose an investment level that fits your budget, making it possible to own a piece of a luxury property you might not have considered otherwise.
Budgeting for Ongoing Costs Beyond the initial purchase, every home comes with ongoing costs like property taxes, insurance, utilities, and maintenance. A TIC agreement clearly outlines how these expenses are divided among the co-owners, usually in proportion to their ownership stake. If you own a 1/8 share, you’ll pay 1/8 of the annual operating costs. This ensures fairness and transparency. At Fraxioned, we handle all of this for you. We create an annual operating budget and manage all payments, so you just pay a simple, predictable monthly fee. You can track everything through the myFRAX Portal , taking the guesswork out of budgeting.
Understanding Shared Liability for Loans and Taxes It’s important to understand how shared responsibilities work, especially for major items like property taxes. In some TIC arrangements, all owners can be held responsible for the entire tax bill, a concept known as "joint-and-several liability." This is why having a robust, professionally managed structure is so critical. A well-drafted agreement, like the one used in a Fraxioned co-ownership property, establishes a clear legal framework (typically an LLC) to manage these liabilities. This protects all co-owners by ensuring that payments are made on time and responsibilities are clearly defined, preventing the disputes that can arise from informal agreements.
What if a Co-Owner Wants to Sell? Life happens, and circumstances change. It’s completely normal for a co-owner to eventually decide to sell their share of a vacation home. This is a common question and one of the most important aspects to understand before entering a co-ownership agreement. The beauty of a Tenancy in Common (TIC) agreement is that it provides a clear and fair process for this exact situation.
Unlike other forms of ownership that can be restrictive, a TIC gives you a defined, independent interest in the property. This means you have the freedom to sell your portion when the time is right for you. However, a well-structured agreement also includes provisions to protect the interests and harmony of the entire ownership group. The goal is to make the process smooth and predictable for both the seller and the remaining owners. Thinking about this ahead of time ensures that when someone is ready to move on, everyone knows exactly what to expect, preventing confusion and potential disagreements down the road.
The Rules for Selling Your Share One of the biggest advantages of a TIC is the flexibility it offers. You own your share, and you have the right to sell it. In most TIC arrangements, you can sell your interest in the property without needing to get permission from the other co-owners. This gives you a level of autonomy that is crucial. Your share is your asset, and you control its future. This structure ensures that you aren't locked into ownership indefinitely if your personal or financial situation changes. The co-ownership model is designed to fit your life, not the other way around.
Giving Co-Owners the First Chance to Buy While you have the freedom to sell, a standard TIC agreement almost always includes a "right of first refusal." In simple terms, this means that before you can sell your share to an outside party, you must first offer it to the other co-owners. This is a fair and respectful approach that gives the existing group the opportunity to buy the share and keep the property within the original circle of owners if they choose. It helps maintain the group's dynamic and ensures that current owners have a say in who might join them. You can find more details on how this works on our FAQ page .
Planning Your Exit Strategy from the Start The best way to ensure a smooth sale is to plan for it from day one. A strong TIC agreement is essentially a roadmap that outlines the entire process for selling a share. It will specify everything from how the share price is determined to the timeline for the right of first refusal. Having these buy-sell provisions clearly defined in writing at the outset is the key to preventing future disputes. It protects everyone involved and provides a clear, agreed-upon procedure to follow, making the transition seamless for the seller and the remaining owners.
Common Myths About TIC Agreements, Busted Tenancy in Common can seem complicated, and a lot of misinformation floats around. It’s a flexible way to co-own property, but its flexibility can also lead to confusion. Before you decide if it’s the right path for you, it helps to separate fact from fiction. Let's clear up a few of the most common myths so you can feel confident about how co-ownership really works. Understanding these key distinctions is the first step toward a smooth and enjoyable experience with your shared vacation home.
Myth: Your Share Automatically Goes to the Other Owners One of the biggest points of confusion is what happens if a co-owner passes away. Many people assume their share is automatically absorbed by the remaining owners, but that’s not how a TIC works. A key feature of this ownership structure is that there are no rights of survivorship . This means your portion of the property is yours to pass on. When an owner dies, their share is transferred to their heirs, as designated in their will or estate plan. This gives you control over your asset and ensures your legacy is protected.
Myth: Everyone's Responsibilities Are Always Equal It’s easy to assume that if you're sharing a property, everyone chips in equally for everything. While that can be the case, it isn’t a rule. Ownership shares in a TIC can be unequal—one person might own 50% while two others own 25% each. Responsibilities for costs like property taxes and maintenance are typically divided according to those ownership percentages. This is why a clear agreement on costs is so important. It outlines exactly who pays for what, preventing misunderstandings and ensuring fairness among all the co-owners.
Myth: You Own a Specific Room or Unit When you buy into a co-owned property, you might picture yourself owning a specific bedroom or floor. In reality, a TIC works a bit differently. As a co-owner, you own a percentage of the entire property, not a specific physical part of it. Your right to exclusively use a particular space—or, more commonly in a vacation home, specific weeks on the calendar—comes from the TIC agreement. This written contract is what grants you usage rights, while the deed reflects your shared ownership of the whole property.
Myth: Any Simple Agreement Will Do You might think any basic, off-the-shelf agreement will do the trick. Just sign on the dotted line and you're good to go, right? This is a risky approach. A TIC agreement is the rulebook for your shared ownership, and a vague or poorly constructed one can create more problems than it solves. A solid agreement anticipates potential conflicts and provides clear solutions for everything from scheduling stays to handling repairs. Investing in a well-written TIC agreement from the start is one of the best ways to ensure a harmonious and stress-free co-ownership experience for everyone involved.
Potential Hurdles to Keep in Mind Co-owning a vacation home is an incredible way to make your dream getaway a reality, but just like any partnership, it helps to go in with your eyes wide open. Thinking through potential challenges ahead of time is the smartest way to ensure a smooth and enjoyable experience for everyone involved. Most of these hurdles are easily cleared with a well-drafted Tenancy in Common (TIC) agreement that sets clear expectations from the start.
The main areas where co-owners can run into friction are in sharing control of the property, understanding the specifics of financing, and figuring out how to handle disagreements when they pop up. It might sound a little intimidating, but having a solid plan in place for these situations is what separates a stress-free ownership experience from a complicated one. When you work with a company that specializes in co-ownership, many of these details are already handled for you through a professional framework designed to protect all the owners and keep the focus on what matters: making memories.
Sharing Control Over the Property When you bring multiple owners together, you also bring together different perspectives and goals. One family might envision the home as a quiet, electronics-free retreat, while another might be excited to host lively holiday gatherings. These differences are completely normal, but they can lead to conflicts if they aren’t discussed upfront. This is where your TIC agreement becomes your best friend. It lays out the ground rules for everything from decorating and renovations to house rules for guests, ensuring everyone is on the same page. A professionally managed co-ownership model often handles these operational decisions, which removes the burden from individual owners and lets everyone simply enjoy their time at the home.
The Unique Nature of TIC Financing Securing a loan for a fraction of a property isn't quite the same as getting a traditional mortgage. Because Tenancy in Common is a more specialized form of ownership, not all lenders are familiar with it. You may find that you need to work with specific banks or financial institutions that have experience with this type of purchase. The structure of your TIC agreement can also have certain tax implications , so it’s always a good idea to consult with a financial advisor. To make this process easier, companies like Fraxioned often provide financing solutions and connect buyers with lenders who understand the co-ownership model, simplifying what could otherwise be a complex step.
Working Through Co-Owner Disagreements Even with the most detailed agreement and the best intentions, disagreements can still arise. Maybe there’s a debate over a non-essential but expensive repair, or a conflict over scheduling. Without a predetermined plan, these minor issues can escalate. A strong TIC agreement anticipates this by including a dispute resolution clause. This section outlines the exact steps you’ll all take to resolve a problem, whether it’s through a group vote, mediation, or another agreed-upon method. Having this process defined in writing prevents arguments from turning into serious legal issues and provides a fair, clear path forward so you can get back to enjoying your shared home.
Ready to Get Started? Here’s How. Feeling inspired to find your own slice of paradise? Turning the dream of a vacation home into a reality through co-ownership is more straightforward than you might think. The key is to approach it step-by-step. By finding the right property, getting your paperwork in order, and leaning on the right experts, you can create a seamless and enjoyable path to owning your perfect getaway. Let’s walk through what you need to do to get started.
Find the Right Co-Ownership Opportunity Your first step is to explore properties and find the one that feels like home. Co-ownership is a fantastic way to buy a home in a beautiful, often expensive, area by pooling your resources with others. Instead of shouldering the entire cost yourself, you share it, making that stunning mountain cabin or lakeside retreat suddenly within reach. Start by browsing available listings to see what’s out there. Think about the location, size, and amenities that matter most to you and your family. This is the fun part—imagining the memories you’ll make in a place you can call your own.
Gather Your Essential Documents Once you’ve found a property, it’s time to make it official. The cornerstone of any co-ownership arrangement is the Tenancy in Common (TIC) agreement. Think of this as the foundational rulebook for your shared home. A TIC agreement is a legal contract that clearly outlines each owner's rights and responsibilities, from scheduling stays to splitting bills. It ensures everyone is on the same page from day one, which is crucial for a harmonious ownership experience. Having a clear, comprehensive agreement in place protects everyone involved and provides a roadmap for handling any situation that might arise.
Work with Experienced Professionals You don’t have to figure all of this out on your own. Working with professionals who specialize in co-ownership can make the entire process smoother and more secure. It’s highly recommended to get help from an experienced lawyer to draft or review your TIC agreement. Their expertise can help prevent future disputes and ensure your ownership goals are clearly defined and legally protected. At Fraxioned, we guide you through every step, connecting you with the right legal and financial experts to ensure your co-ownership journey is set up for success from the very beginning.
Related Articles Frequently Asked Questions What happens to my share of the home if something happens to me? This is a really important question, and it highlights a key benefit of a Tenancy in Common agreement. Your share is your asset, just like any other property you own. It does not automatically go to the other co-owners. You have the freedom to decide who inherits your share through your will or estate plan, allowing you to pass it on to your children or other loved ones.
Am I responsible if another co-owner doesn't pay their share of the costs? A professionally managed co-ownership structure is designed to prevent this exact problem. The TIC agreement , combined with a managing entity like an LLC, creates a framework where each owner is responsible for their portion of the expenses. Fraxioned handles the collection of monthly fees and payment of all bills, which protects you from being held accountable for someone else's missed payment.
Why do we need a formal agreement? Can't we just work things out as we go? While it's tempting to rely on a handshake, especially with friends or family, a formal agreement is what makes co-ownership a smooth and stress-free experience. It acts as a clear rulebook that everyone agrees to from the start. This document proactively answers questions about scheduling, paying for repairs, and handling a potential sale, which prevents small misunderstandings from turning into big problems down the road.
How is scheduling handled to make sure everyone gets to use the home fairly? A solid TIC agreement outlines a clear and equitable system for booking your stays. The rules for scheduling are designed to give every owner ample opportunity to enjoy the home throughout the year, including during holidays and peak seasons. Our dynamic scheduling system is easy to use and ensures that access is distributed fairly, so you can plan your vacations with confidence.
Does owning a 'fraction' mean I only own a specific room in the house? Not at all. As a co-owner in a TIC, you own a percentage of the entire property, not just one part of it. Your ownership gives you the right to use the whole home during your scheduled stays. The TIC agreement is the private contract that defines how that usage is shared among the owners, ensuring everyone gets to enjoy the entire space.
