https://www.the1031investor.com/wp-content/uploads/2019/08/canstockphoto1321175.jpg 1993 3000 Gunnar Foster https://www.the1031investor.com/wp-content/uploads/2018/08/the1031investorLogo135x80.png Gunnar Foster2019-08-07 08:54:462019-08-07 09:25:14What To Do With Your Slice Of The Pie: 1031 Exchanges And Tenants In Common (TICs)
What To Do With Your Slice Of The Pie: 1031 Exchanges And Tenants In Common (TICs)
Tenants In Common (TIC) is a wonderful little arrangement wherein multiple owners each have a deeded interest in a property. That interest is a percentage or portion of the property. But can investors who hold an investment as Tenant in Common still take advantage of a tax deferred 1031 Exchange?
Long answer short: YES! When you sell your TIC, you can each decide what you want to do with your slice of the pie.
- You can stay together as one 1031 Exchange or
- You can 1031 Exchange your portion while the other(s) to take cash or
- You can each do a 1031 Exchange into separate properties with your portion.
You’ve got great flexibility in how you transition out of a property held as tenants in common. Because each situation and investor has unique circumstances, always consult with your financial adviser before proceeding.