Tenant in Common is a type of co-ownership of a parcel of land including all structures. The intent is to commercialize interests associated by contract between the owners of an ADU and main residence. Used to establish clear expectations of usage without establishing separate ownership of structures which is illegal in most jurisdictions, Product includes a plot layout, draft TIC contract, recordable deeds defining ownership interest in entire parcel, A LLC ownership model is an alternative to the TIC. Such co-ownership models can enable ADU starter home production where the prospective co-owner solicits and funds an ADU starter home in exchange for a predetermined interest in the property.
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