Tenants in Common (“TIC”) 1031 Exchange
Tenants in Common properties (“TIC”) allow the seller of real estate to qualify for a 1031 tax free exchange of the property sold in exchange for an ownership interest in another investment property. Brokerage firms sell fractional ownership interests in real estate to persons who have recently sold or are considering the sale of an appreciated piece of property as an alternative investment vehicle that preserves the tax free status of a property exchange.Due Diligence on Tenants in Common (TICs)
It is imperative that broker-dealers selling TICs perform adequate pre-sale due diligence and on-going monitoring of the TIC investment. Pre-sale and subsequent due diligence are conducted by the brokerage firm’s due diligence department personnel. At the very minimum due diligence of the financial statements, background checks of the promoter and key persons and an appraisal of the underlying real estate must be performed.Have You Lost Money on Tenants in Common (TICs)? Recover Your Losses!
Warning signs that a TIC may be failing may include the failure of management to communicate with the investors or a freeze in dividend or interest payments.
To help us evaluate your chances for a successful recovery for “Tenant In Common (TIC) 1031 Exchanges” we offer a free and confidential claim evaluation.