Real Estate Investing Quizzes-TIC stands for: - E-PersonalFinance
    • Answer to Quiz
    College Saving
    TIC stands for:
    Answer: (b), tenancy-in-common
    A "tenancy-in-common" is a form of ownership for two or more owners. The individual interests do not have to be equal and the owners enjoy a proportionate right to the property. Tenants-in-common are considered to be direct owners and are listed on the deed. If the tenants-in-common invest in real estate, the owners receive a proportional share of the income, tax benefits, and appreciation of the property. Upon the death of one of the owners of a tenancy-in-common, title passes to the estate of the deceased owner rather than to the other owners in the tenancy-in-common. The beneficiary named in the will assumes the decedent's proportionate title to the property and becomes the new tenant-in-common along with the surviving tenants-in-common.


    Next Quiz:
    College Saving
    If a property is worth $250,000, and there is a $100,000 mortgage on the property, the home equity of the property is:




  • Word of the Day
    Word of the Day

    Securities Act of 1933

    The "Securities Act of 1933" is a federal law requiring the registration of the offer...

    Read more
    • Copyright © By unibs.co.uk All rights Reserved