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From Wikipedia, the free encyclopedia
Tenants in common 1031 Exchange is a form of real estate
asset ownership in the United States of America in which two or more
persons have an undivided, fractional interest in the asset, where
ownership shares are not required to be equal, and where ownership
interests can be inherited. Each co-owner receives an individual deed
at closing for his or her undivided percentage interest in the entire
property. In brief, a TIC owner has the same rights and benefits as a
single owner of property.

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Although the TIC ownership form has been used for many years, its
popularity has been increasing dramatically due to a recent IRS ruling.
Exchangers often have difficulty in locating and closing suitable
replacement property within the 45 day identification period and the
180 day closing period. 1031 TIC exchanges can significantly reduce
these risks.