An affordable way into LA homeownership for buyers — and a way for owners of duplexes and small multi-unit buildings to sell for more. Here's how it works, in plain English.
A Tenancy in Common (TIC) is a way for two or more people to co-own one property. Instead of buying a whole house or a condo, each owner buys an undivided fractional percentage interest in the entire property — recorded on a real deed, land included — and receives the exclusive right to live in a specific unit through a private written agreement among the owners.
It's a long-recognized form of co-ownership under California law (Civil Code §686). The property keeps a single parcel number (APN) — there's no subdivision and no condo map — which is exactly what makes a TIC faster and less expensive to create than a condo conversion.
A TIC attorney prepares the written TIC Agreement that assigns each unit and sets the rules among owners.
Each share is priced and marketed to owner-occupant buyers — I manage the listing and showings.
Buyers get their own fractional TIC loan through a specialized lender; I make the introductions.
Each buyer records a deed for their percentage interest and takes occupancy of their unit.
In 1985, San Francisco attorney Andy Sirkin created the legal and transactional structure that became the industry standard for residential TICs. His firm, SirkinLaw APC, was the first to gain state approval for large-building TIC sales and the first to convince institutional lenders to offer individual fractional TIC financing.
Over the years his firm has structured more than 5,000 co-ownership arrangements, and TICs have grown to represent a significant share of attached-home sales in San Francisco. In short: this is well-settled, time-tested ground — not an experiment.
Read Sirkin's TIC Resources →A common question: “If you sell one unit of a duplex, doesn't the land need a separate parcel number?” The answer is no. Each buyer's deed conveys an undivided percentage of the whole parcel — land included — while the right to a specific unit comes from the private, unrecorded TIC Agreement.
California courts treat that private agreement as a contract among co-owners, not a subdivision — so it falls outside the Subdivision Map Act, requires no city map, and needs no separate APN. Lenders and title insurers underwrite against the fractional interest on the single parcel.
Yes. You receive a recorded deed conveying an undivided percentage interest in the property, land included — and you build equity just like any other owner. The TIC Agreement gives you the exclusive right to your specific unit.
A condo is a legally subdivided building where each unit has its own parcel number and recorded map. A TIC keeps one parcel and one APN; owners share title and assign each unit by private contract. Because no subdivision is required, a TIC is faster and less costly to create.
Yes — through a fractional TIC loan, where you finance only your share. A limited number of lenders in Los Angeles offer these, so terms differ from a standard mortgage. I'll connect you with the specialized lenders who do this.
It's worth a conversation. For many small (2–4 unit) buildings, selling separate TIC shares to owner-occupants nets more than selling the building whole to an investor — without a condo conversion. I'll run the numbers with you honestly.
TICs are a long-recognized form of California co-ownership and have been common in San Francisco for decades. The key is a well-drafted TIC Agreement from an experienced TIC attorney — which I'll make sure is in place on any TIC I represent.
Whether you're a buyer looking for an affordable way in, or an owner weighing a TIC sale — let's talk it through. No pressure.
Ask Me About TICs ☎ 323.610.0474