Tenancy in Common (TIC) is a specific type of concurrent, or simultaneous, ownership of real property by two or more parties. All tenants in common hold an individual, undivided ownership interest in the property. This means that each party has the right to alienate, or transfer the ownership of, her ownership interest. This can be done by deed, will, or other conveyance. Tenants may hold unequal interests and may acquire their interests from different instruments.
Limited liability Company (LLC) is a type of business ownership combining several features of corporation and partnership structures. Owners of a LLC have the liability protection of a corporation. A LLC exists as a separate entity much like a corporation. Members cannot be held personally liable for debts unless they have signed a personal guarantee. All your business losses, profits, and expenses flow through the company to the individual members. You avoid the double taxation of paying corporate tax and individual tax. LLC can be used to administer real estate investment property.
