Any syndicated investment created through a Tenant-In-Common (TIC) structure. Under a Tenant-In-Common structure, each investor (known as a co-tenant or co-owner) holds an undivided, fractional interest in the property. Tenant-In-Common investments are deemed to be a form of direct ownership which makes them 1031 exchange eligible, provided that the vehicle is not treated as a partnership for tax purposes.
In order to utilize the TIC structure as a 1031 exchange compliant investment each co-tenant must receive his or her pro-rata share of income and expense allocations. This is a key difference from partnership or limited liability company (LLC) legal structures which allow for disproportional returns and promoted equity. Another key requirement of a Tenant-In-Common (TIC) investment as it relates to 1031 exchanges, is that the investment vehicle is typically limited to 35 co-owners.
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Hypothetical example(s) are for illustrative purposes only and are not intended to represent the past or future performance of any specific investment.
Investing in alternative assets involves higher risks than traditional investments and is suitable only for sophisticated investors. Alternative investments are often sold by prospectus that discloses all risks, fees, and expenses. They are not tax efficient and an investor should consult with his/her tax advisor prior to investing. Alternative investments have higher fees than traditional investments and they may also be highly leveraged and engage in speculative investment techniques, which can magnify the potential for investment loss or gain and should not be deemed a complete investment program. The value of the investment may fall as well as rise and investors may get back less than they invested.
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