A Tenant in Common 1031 exchange is a purchase by an investor of an undivided fractional interest in real property to complete his exchange. The investor receives at settlement an individual deed stating his undivided percentage ownership in the property. He has the same rights as he would as a sole owner. IRS Revenue Proclamation 2002-22 dictates the requirements necessary to satisfy the ruling.
Tenant in Common
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Synonyms:
TIC