These days, not everybody wants to buy a property outright on their own. An alternative may be to purchase through a tenants in common.
If you’re considering buying a house with a partner, however worried the relationship won’t last. The Tenants in Common Exchange (ticX) will provide you with a platform to sell your share.
The ticX trading platform allows developers, builders, renovators and real estate agents to legally offer their property for sale under a tenants in common’.
TicXchange CEO said, “Under tenants in common law, people can buy an ownership share of a property registered on title proportionate to what they have paid. On ticX, that ownership share can be traded separately to the property itself as a whole.
“Tenant in common ownership of real estate has been around for a long time. However it’s never been commercialised until now. There’s never been a trading platform where a co-owner share in real estate could be independently traded, until now.”
The ticX trading platform enables investors to directly buy a share in a property with other like-minded parties. Sharing expenses, rental income and capital value proportionate to the percentage held. Each co-owner is separately registered on title. This is often referred to as either shared ownership, co-ownership or tenancy in common.
Giving developers, agents and private vendors the power to seek sales via ticX opens up a whole new market to them.
ticX is the only centralised real estate trading platform providing a pathway for the rentvestor. This group is emerging because to affordability and cultural change.
A rentvestor is a person who is unable or unwilling to purchase a property outright as their principal place of residence who chooses a less risky path by being a long-term renter whilst purchasing an investment property or an affordable ownership share.
Before making any financial decision, including tenants in common ownership, we strongly recommend you speak to a financial planner or accountant who can review your personal circumstances and ensure this is appropriate for you. If this is of interest, please feel free to contact us or ticX.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more, please contact us. We welcome the opportunity to assist you.
Feb 2020
