Pitfalls Of Tenancy In Common Ownership
| Published date | 20 March 2024 |
| Law Firm | IR Global |
| Author | John Petrony |
Although it's fairly uncommon, individuals or businesses sometimes choose to own commercial property as tenants in common, with no survivorship rights. Although there are some tax benefits associated with such an ownership structure (including, but not limited to, those related to 1031 exchanges), various pitfalls are presented under state real estate law which the owners should be aware of.
Tenancy in common is roughly defined as the holding of ownership in land by several persons through distinct titles...
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