San Francisco Condos VS. TIC Units -
Learn About The Pros & Cons
The real estate market can be a
confusing place, and it's all the
more complex for buyers and
sellers interested in
condominiums and tenancy-in-
common contracts.
The latest guide from Black
Label Real Estate makes
things simple, so you
understand everything before
you buy or sell.
The article is the most recent
addition to the company's range
of valuable and informative
resources on the property market
in Sonoma Country, Napa County
and the East Bay area.
Black Label Real Estate's article has
been developed alongside the
company's extensive real estate
services, including property
valuations, marketing and sales
negotiations that make your property
journey easier.
The guide begins by outlining the
ownership details of both a condominium
and a tenancy-in-common, stating that with
the former, each property owner solely
owns their own condo, but in the latter,
each owner purchases an undivided
interest in the same property.
Each owner could argue their
right to have access to all and
every part of the entire
property - not just the part they
reside in.
For TIC owners, your
agreement should state that you
have exclusive occupation
rights of a particular unit, and
non-exclusive rights to specified
common areas.
Elsewhere in the article, the author
details the differences in rules for TIC
and condominium ownership, explaining
that for condo owners, there are state
laws in California that apply to the HOA,
creating a baseline set of rules that must
be adhered to.
In the case of TIC agreements, there
are no similar rules in place, as each
agreement is considered to be a
private contract that’s unique from
property to property - and is entirely
ungoverned by local or statutory
regulations.
Black Label Real Estate is the
luxury real estate agency you can
rely on for valuable, informative
articles and insights into the
property market, to make your
buying and selling process simple.
Go to http://blacklabel-
realestate.com to find
out more.