I hate the term real estate. It's cold and business-y, everything that tends to make me hide under the bed. What I write about is space: homes, cafes, places where you can do work, pet the cat, and Google your next-door-neighbor from 10 years ago. I write about places. And I like to do it from a personal perspective.

Friday, September 16, 2005

Tenancies in common

Last month, this article caught my eye. Essentially, laws regarding tenancies in common (TICs) may soon loosen.

Right now, a tenancy in common means that all partners are equally responsible for the entire mortgage. If one pulls out, the rest need to pick up the slack.

With the proposed changes, partners would only be responsible for their own share of the mortgage. This could make TICs the way to enter overheated markets such as San Francisco and New York. There's probably some downside to this, but I haven't yet figured it out.

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