Tenants in Common Agreement Template

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A tenants in common contract (TIC) is a contract where two or more people set out their legal ownership rights, obligations, and terms of property management. This form can outline what percentage of legal partition each tenant owns or who will inherit the tenant's shares upon his or her death. Download a printable TIC agreement template from Loio and edit the form to your desired terms.
Paper titled "Tenants in Common Agreement"; tenants in common reading books

What Is a Tenants in Common Agreement?

It is a written contract between two or more people who own a property together. It outlines who owns what, how decisions will be made, and what happens if one person wants to leave or passes away. Unlike joint ownership, each person listed in the memorandum of tenants in common agreement owns a separate share of the property, which they can give away or leave in a will.

How Does Tenancy in Common Work?

Anyone over the age of 18 can enter into the agreement. This includes people who live together:

    • Individuals;

    • Business partners; 

    • Family members;

    • Friends;

    • Unmarried couples. 

    The deal typically involves real estate, such as a house, apartment, or land, though it can also apply to other shared assets like vacation homes or commercial property. Each party holds a specific, separately owned share of the property, which they can sell, transfer, or leave to someone in a will. 


    Tenants in common contracts can also set rules for everyday responsibilities, such as how to split mortgage payments, repairs, or utility costs. The document is especially helpful for major events, like when one owner wants to sell their share or passes away, as it allows for the prevention of lengthy court hearings. 

    When Should You Use a Tenants in Common Agreement?

    A tenants in common agreement template is useful any time several unmarried individuals decide to own property together, especially if everyone contributes different amounts or wants flexibility with their share.

    Common situations

    • Buying a home with a friend or sibling;
    • Investing in a rental property with a partner;
    • Living with someone (not married) and owning a house together;
    • Inheriting property with family members;
    • Purchasing a second home with multiple buyers.

    What Does a Tenants in Common Agreement Include?

    This document usually covers such essential information:

    • Full name and contact details of all parties involved in the deal;

    • Full description and address of the property;

    • Exact ownership shares (e.g., 50/50 or 60/40);

    • How you'll pay for the mortgage, taxes, and repairs;

    • What happens if one party decides to sell their part;

    • What happens if someone passes away;

    • Which state's laws apply to the agreement.

    If you're unsure about what clauses to add to the document, use a tenants in common agreement example available online or consult a real estate lawyer.

    How Can I Write a Tenancy in Common Agreement?

    You don't need a law degree to write this document. If you use a reliable tenancy in common agreement template, here's how to fill it out:

    1. List the full names and current addresses of all owners.

    2. Write the full address of the property and add a description if needed.

    3. Write down how much of the property each person owns. This can be equal, or based on how much money each person paid. 

    4. Decide who will pay for the mortgage, utilities, taxes, repairs, and other expenses. 

    5. Decide what happens if one of you wants to move out, sell their share, or dies. Do the others get the first choice to buy the share? Can someone leave their share to their family? 

    6. Specify what to do if there's a disagreement. Mediation or arbitration are common options. 

    7. Pick which state's laws the document will follow. It's usually the one where the property is located.

    8. Add the signatures of all owners, the date, and the location.

    9. Download the finished tenants in common agreement PDF.

    How Can I Terminate My Tenancy in Common?

    If you wish to end your fixed-term joint tenancy, you must simply get the approval of your landlord and consent from the other tenants. When you end your tenancy, it ends for everyone, as mentioned in the tenants in common agreement sample. It is necessary to get all tenants' consent to end a joint tenancy with a break clause unless your agreement states otherwise.

    Should I Have My Tenants in Common Agreement Notarized?

    It's not required in every state but adds legal protection to the deal. A notary confirms that everyone signed it willingly and understood what they were agreeing to. That can make a big difference if there's ever a legal dispute.

    Keep a copy of the signed TIC agreement sample in a safe place. You may also file it with the county where the property is located, depending on local rules.

    What State Laws Regulate the Tenants in Common Agreement?

    Property law can have particular rules about how to deal with certain types of homeownership. Below are the state laws across the U.S. regulating tenancy-in-common and joint tenancy relations. 

    State Law
    Alabama

     Ala. Code § 35-4-7

    State Law
    Alaska

    Alaska Stat. 34.15.110

    State Law
    Arizona

    ARS § 33-431

    State Law
    Arkansas

    Ark. Code § 18-13-113

    State Law
    California

    Cal. Civil Code § 685

    State Law
    Colorado

    Colo. Rev. Stat. § 38-31-101

    State Law
    Connecticut

    Conn. Gen. Stat. § 47-14a

    State Law
    Delaware

    Del. Code Ann. tit. 25, § 311

    State Law
    Florida

    Fla. Rev. Stat. Title XL § 689.15

    State Law
    Georgia

    GA Code § 44-6-120

    State Law
    Hawaii

    Haw. Rev. Stat. § 509-2

    State Law
    Idaho

    Idaho Code §§ 55-508

    State Law
    Illinois

    765 ILCS 1005

    State Law
    Indiana

    IC Title 32-17-3

    State Law
    Iowa

    Iowa Code Ann. § 557.15

    State Law
    Kansas

    K.S.A. 58-501

    State Law
    Kentucky

    Ky. Rev. Stat. § 381.120

    State Law
    Louisiana

    La. Stat. tit. 9 § 1711.1

    State Law
    Maine

    Me. Rev. Stat. Ann. tit. 36 § 555

    State Law
    Maryland

    Md. Code Ann § 4-108

    State Law
    Massachusetts

    Mass. Gen. Laws Ann. ch. 184, § 7A

    State Law
    Michigan

    Mich. Comp. Law § 700.2901

    State Law
    Minnesota

    Minn. Stat. Ann. § 500.19

    State Law
    Mississippi

    Miss. Code Ann. § 89-1-7

    State Law
    Missouri

    Mo. Rev. Stat. §§ 442.025

    State Law
    Montana

    Mont. Code Ann. § 70-20-105

    State Law
    Nebraska

    Neb. Rev. Stat. § 76-118

    State Law
    Nevada

    NV Admin Code 375.128

    State Law
    New Hampshire

    NH Rev Stat § 477:18

    State Law
    New Jersey

    NJ Rev Stat § 46:3-17

    State Law
    New Mexico

    NM Stat § 47-1-36

    State Law
    New York

    NY Est Pow & Trusts L §§ 6-2.1, 6-2.2

    State Law
    North Carolina

    N.C. Gen. Stat. § 6-41-71

    State Law
    North Dakota

    N.D. Cent. Code § 47-02-08

    State Law
    Ohio

    Ohio Rev. Code Ann. § 5302.19

    State Law
    Oklahoma

    60 OK Stat § 60-74

    State Law
    Oregon

    ORS Volume 03, § 93.180

    State Law
    Pennsylvania

    15 PA Cons Stat § 8422

    State Law
    Rhode Island

    RI Gen L § 34-3-1

    State Law
    South Carolina

    S.C. Code §27-7-40

    State Law
    South Dakota

    S.D. Codified Laws Ann. § 29A-6-302

    State Law
    Tennessee

    Tenn. Code Ann.Title 66, chapter 1, part 1, § 66-1-107; 
    Title 61, part 2, § 66-1-202.

    State Law
    Texas

    Tex. Est. Code §101.002

    State Law
    Utah

    Utah Real Estate Code § 57-1-5

    State Law
    Vermont

    Vermont Statutes, Title 9, chapter 134, § 4352 

    State Law
    Virginia

    Va. Code Ann. § 55.1-135

    State Law
    Washington

    RCW 64.28.020

    State Law
    West Virginia

    WV Code § 36-1-19

    State Law
    Wisconsin

    Wis. Stat. Ann. §§ 700.19; 700.20

    State Law
    Wyoming

    WY Stat § 34-1-140

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