Tenancy In Common Explained
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Tenancy In Common ExplainedA tenancy in common is an investment in a single large commercial rental property by multiple property owners, not as limited partners, but as individual property owners. Each property owner receives an individual deed at closing for his or her undivided percentage interest in the entire rental property. A tenancy in common exchange qualifies as a 1031 exchange according the internal revenue code. The theory behind internal revenue code is to allow the property owner to reinvest the sale proceeds into another rental property, foregoing any economic gains that may have been realized from the sale. A qualified 1031 real estate attorneys can help explain your options with investing in a tenancy in common.If you have recently sold, or are thinking of selling investment rental property, we can assist in matching you with a qualified 1031 real estate attorneys. Contact us today for a free consultation. Popular tags |
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