A “Tenants-in-Common” or “TIC” property is when two or more individuals come together to purchase a multi-unit building. Our seller has gone through the legal process to re-entitle this former duplex into a TIC.

With a TIC, owners own a percentage in an undivided property rather than a particular unit. In this example, a buyer purchases unit 692 of this 2-unit building. The buyer will own approximately 50% of the building. Percentages of ownership are either equal for each unit or vary depending on the square footage. A “Tenancy In Common Agreement” is created and indicates what unit the buyers percentage grants them ownership of.

Because not all lenders have programs for Tenants in Common properties we have identified a couple that do underwrite TIC properties in Silicon Valley.


Sterling Bank & Trust




Mary Pennel
Commerce Mortgage


NMLS #305513


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