The tenancy-in-common (TIC) market remains strong in popular neighborhoods like Noe Valley and Russian Hill, especially if that TIC is in a two-unit building.
Buyers haven’t shied away from purchasing TIC interests, despite limitations related to 2013 legislation that significantly reduced the number of properties allowed to condo convert. Many TIC owners have resigned themselves to the reality that they hold title to “permanent” TICs.
TICs in two-unit buildings aren’t affected by that legislation if each unit is 100% owner occupied. In that case, both owners can pursue “fast track” condo conversion. Continue Reading