Is my property a TIC or Join Tenancy?

[Luke Haverkamp]

I'm sure this is an easy question for someone that knows their stuff, but how do I know if I property I bought recently with a business partner is held with joint tenancy or a TIC? I'm trying to figure out if that is something recorded on the deed, or if it is arranged by a partnership agreement, etc. I probably should have figured this out before we closed on the property, but better late than never.

[Matt Devincenzo]

It's based on the deed. If you held as TIC it should say something like "Luke Haverkamp (50%) and XXX (50%) as Tenants in Common". The % is defining your TIC ownership % and can be whatever was agreed to.