TIC owners share everything but own nothing outright.

[Felicia Nitu]

Ever wondered what truly separates a TIC from a condo? Understanding TIC vs. Condo Ownership just got easier! While both involve shared spaces, the way ownership works is entirely different, and it can impact your rights, control, and future flexibility.

Who Really Owns What?

// Shared Ownership, Different Rules
TIC Owners: Hold fractional shares of the entire property, but no one owns a specific unit outright. No right of survivorship. If an owner passes away, their share goes to their estate.
Condo Owners: Own their units exclusively while sharing common spaces. The HOA governs those areas and may assign exclusive rights to amenities like parking or pool.

// Differences in Control & Management
TIC: All owners collectively manage the property, often requiring group decisions on maintenance and sales.
Condo: An HOA enforces rules, collects fees, and oversees shared spaces, reducing direct owner control.

// Which One is Right for You?
TIC offers lower entry costs and flexibility but comes with shared risks and complexities. Condo ownership provides clear property rights but means living under HOA rules. Understanding these differences can help buyers make the right choice.

TICs and condos offer distinct opportunities for agents. TICs appeal to buyers seeking lower-cost entry into competitive markets, while condos attract buyers looking for property rights. Agents who understand these differences can better guide clients, increase transactions, and unlock more sales opportunities.