What happens when you pool together investors who have never met with Owners of Commercial Buildings? Tenancy In Common, with a twist.
Here’s a link to the article: Creative Real Estate
Tony Thompson and Triple Net Properties, his company, is buying high rise office buildings in cities nationwide. He uses the suddenly popular tenant-in-common format on these deals, in which investors share ownership and turn over management to him.
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Unlike joint tenancy, where a joint tenant’s share passes to the other joint tenant upon death, tenants in common shares normally pass to the tenant in common’s heir. In addition, actions by a joint tenant to sell or mortgage property usually require the other joint tenant’s consent.
