BULLETIN BOARD Apr 14, 2008
Purchasing a Tenancy in Common in San Francisco. Presented by Robert McCullough of Height's Properties, 6-7 p.m., 1716 Union St., San Francisco, free, reservation required, (415) 828-5080. (San Francisco Chronicle)
Joint Ownership: Proceed with Equal Parts of Creativity and Caution Apr 8, 2008
Invest time understanding the pros and cons, similarities and differences, of the two types of joint ownership: tenancy in common and joint tenancy ... Under joint tenancy, co-owners do not have the right held under tenancy in common to bequeath property in a will ... If owner Bill sold his share in a property, that interest must be held in tenancy in common by the new owner, Susan. (RealtyTimes)
Ins, Outs Of Equity Sharing Mar 5, 2008
Title to the home can be held in a variety of ways -- joint tenancy with right of survivorship, tenancy in common, partnership or as a living trust. Equity sharing deals should be legal and binding contracts designed to provide an equitable means to an end. (RealtyTimes)
Real estate calendar Feb 25, 2008
1031 Exchanges and Tenancy in Common. Led by Brian Linhart and John Bush, 6-9 p.m., 4341 Piedmont Ave., Oakland, $10, includes materials, (510) 368-8347. (San Francisco Chronicle)
Two basic ways to divide up property Feb 20, 2008
In a tenancy in common, each party owns a share of the entire property and possesses all the rights inherent in being an owner of the property ... Accordingly, if a parcel of property is owned by Brother A and Brother B as tenants in common, when Brother B dies, his interest in the property will pass to his heirs, who will then have a tenancy in common with Brother A.. (Atlanta Journal-Constitution)
Half Moon Bay Inn dispute goes to court Feb 14, 2008
The two parties bought the building in 2004 and entered into a "tenancy in common agreement" - one of the only written agreements between the groups involved in the proceeding, according to court documents. During an extensive renovations process, rental apartments above a long-standing local bar were converted into hotel-type rooms, and the restaurant "Kitchen ails" was created. (Half Moon Bay Review, CA)
Friends get on the ladder Feb 11, 2008
When more than one person wants to buy a property, they can choose to own it either in a joint proprietorship or joint tenancy, or in a tenancy in common ... While it may be much easier to leave a tenancy in common than a joint proprietorship, it can be a frustrating and lengthy process, testing the relationship between co-owners when one party needs to sell their share ... The fall-back position of any residential tenancy in common is for all parties to sell-up together. (Sydney Morning Herald -- Entertainment)
Tenancies in common gain wider following Feb 11, 2008
Long regarded as the ugly stepchild to San Francisco's flashier condos, tenancy in common developments are starting to earn some respect ... While tenancy in common partnerships have traditionally taken out a group loan on an entire building, in 2005 local banks -- led by the and -- began offering individual loans to TIC buyers. (San Francisco Business Times, CA)
TIC loan record:Spotless Feb 3, 2008
Such is the ironic success of the Tenancy in Common fractionalized loan. Although people have been getting joint TIC loans for decades, fractionalized TIC loans were created at the height of the mortgage madness to offer people the chance to buy their TIC home without sharing a loan on the entire building. (San Francisco Chronicle -- Business)
Court: holder of life estate may require sale of residence Dec 27, 2007
In a tenancy in common, each party can pass his interest to whomever he wants in his will, subject only to certain rights of the surviving spouse. A person in a second marriage may well want to protect his spouse while still taking care of his own children. (Albany Business Review, NY)
5 priceless money-saving tips from Suze Orman Nov 16, 2007
Take the title as Tenancy in Common, which allows you to transfer the asset according to your will. If you do want your spouse to be able to live in the new house for as long as they want, create a life estate. (MSNBC -- Business)
What's happening now in the reportedly stormy San Francisco housing market? Nov 10, 2007
"I keep telling people it's not a buyer's market, but they don't believe me until they get into the trenches." She says she'd heard that the softest sector of the market was entry level properties, but a recent open house of a six-unit Tenancy in Common building with units ranging from $500,000 to $590,000 challenged even that generalization: "I had 100 people go through the house and seven or eight requests for disclosure packages. Many of the buyers were already pre-approved with loans.".... (San Francisco Chronicle -- Sports)
For sale by owner means there's no one else to blame Jul 23, 2007
She recalls a client who had bought a backyard cottage in Noe Valley as part of a tenancy in common ... Spindler recalls another for-sale-by-owner nightmare involving a tenancy in common: "My client found the TIC on Craigslist and it seemed like a really good deal," she said. (San Francisco Chronicle)
Shacking Up With Strangers Jun 27, 2007
"Common" sense home ownershipMany San Francisco residents buy property with a method known as tenancy in common ... Tenancy in common gets around these restrictions ... Risky businessTenancy in common is inherently risky for the parties involved. (MSNBC -- Business)
TICs growing in popularity, price and swankiness Apr 8, 2007
In the early days of the real estate boom, the tenancy in common, or TIC, presented the bleeding edge of affordable homeownership in San Francisco. I should know. (San Francisco Chronicle -- Business)
Sharing the load Feb 26, 2007
" When the Carlsons came across a three-unit building that was being sold either in its entirety or as a tenancy in common -- a form of joint ownership whereby each unit is sold to a different party with all parties appearing on the title -- Carlson turned to his parents for a "financial pick-me-up" to cover the down payment. His parents were happy to oblige, but it didn't end there. They did the same for his sister, who was also toying with the notion of buying her first home. In fact, she... (San Francisco Chronicle)
