SirkinLaw APC pioneered use of tenancy in common (TIC) arrangements involving occupancy rights assignments where true subdivision is impossible or unduly expensive.
SirkinLaw APC has prepared over 5,000 occupancy-based TIC agreements for properties of every size and type, and continues to assist in the vast majority of these transactions in California and throughout the United States.
In 1985, Andy Sirkin created the legal and transactional structure which has become the industry standard for this type of tenancy in common. Over the succeeding years, Andy’s innovations have included being the first state-approved real estate instructor for occupancy-based TICs, being the first to obtain state approval for a large-building tenancy in common sale, being the first to convince institutional lenders to offer individual TIC financing, and being the first to develop the loan documents and lender underwriting guidelines for fractional financing. In recent years, the type of co-ownership arrangement Andy conceived nearly 30 years ago has grown to comprise a significant percentage of all attached-home sales in San Francisco.
Moreover, the use of tenancy in common conversion as a condominium substitute is spreading substantially across California and the United States as fractional tenancy in common financing has become available in more and more locations. In Southern California, SirkinLaw has facilitated numerous TIC conversions throughout Los Angeles and San Diego Counties, and several in the Santa Barbara area. In Central California, we have facilitated a significant number of TIC conversions in Santa Cruz, Capitola, Pacific Grove, Watsonville, and Monterey. In Northern California, in addition to our core business, which has long included tenancy in common conversions in San Francisco and Oakland, as well as virtually all cities and towns in Alameda, Marin, Sonoma, San Mateo and Santa Clara counties, we have recently handles TIC conversions in Plumas and Mendocino Counties. Many of the newest TIC conversions have involved single-family homes. Outside California, SirkinLaw has recently handled tenancy in common conversions in New York City/Brooklyn, Boston/Cambridge, Seattle, and Portland.
Our unmatched level of experience allows us to offer time-tested approaches for the vast majority of co-ownership situations, to quickly and effectively solve problems, and to produce documents that are clear, easy to navigate and read, and efficient and cost-effective to enforce. We continue to improve our documents each month as we encounter new situations and learn more about what tenancy in common arrangements perform best in the real world. We also share our accumulated knowledge, and support real estate professionals and the TIC community, by continuously publishing new articles on our website and offering free educational workshops.
Our tenancy in common practice involves general advice and counseling, TIC agreement preparation, loan documents, and ongoing consultation to developers, seller, Realtors and tenancy in common owners, on either a flat fee or hourly basis. We have a well-deserved reputation for returning calls promptly and providing fast turnaround times. But more important, we are known for finding creative solutions, calming fears, and finding common ground, so that transactions and relationships work. Although our role usually begins at the time the tenancy in common is first formed or sold, we are committed to remaining available to solve problems throughout the life of each tenancy in common.
