The acronym "TIC", which stands for tenancy in common along with the terms "co tenancy" and "fractional ownership" refer to arrangements under which two or more people co-own a parcel of real estate without a "right of survivorship". This type of co-ownership allows each co-owner to choose who will inherit his/her ownership interest upon death. By contrast, the type of co-ownership called "joint tenancy" requires that each co-owner's interest pass to the other co-owners upon death.
Common Disputes
Whether, a tenancy in common or a joint tenancy, Aside from logical mediation and negotiation, a tenant can apply to the court pursuant. Most commonly, the court will appoint a trustee to oversee the sale of the property. However, there are other solutions. The most complaints are usually about: access to the premises by the landlord/agent; maintenance of the property; and withholding security deposits. Some of the most common disputes between landlords and tenants involve nuisance behaviors such as loud music, rowdy guests, unkempt property and other annoyances. Usually the landlord has to intervene because he or she has received several complaints from other Tenant in Common regarding another resident's behavior. When confronted, many of them will either take offense or claim that their actions are justified or permitted under the current lease agreement. Landlords and tenants also frequently clash over housekeeping and upkeep. Another common problem that exists between landlords and tenants is disagreements over maintenance and repairs. Disputes can arise when Tenants in Common find their security deposits have been used to repair damages, replace carpets or cover unpaid utility bills. A tenant in common has a responsibility to live up to all terms and conditions of the contract, whether it be oral or written, If a portion of the deposit is sent to the tenant in common, the landlord has a legal responsibility to acknowledge why a portion of the deposit was withheld in writing, a tenant continues to have difficulty retrieving a security deposit the tenant in common has the option to take the landlord to small claims court. There may be amenities shared between two or more properties, for example, drains and pipes, shared drives or the roof of a block of flats. Responsibility for maintaining them and rights to use them, the legal documents may give you as a property owner rights over your neighbor's property. If a dispute arises between neighbors about the boundary between their properties, it will be necessary to establish who owns the disputed land. The primary evidence will be contained in the legal documents. Clear evidence of this kind is normally conclusive. Where there is a shared amenity that is in need of repair the first step is to find out who is responsible for repairs. However, the legal documents may not always provide clear evidence and, in this case, it is probably best to settle in advance that the costs will be shared between owners.
Disputes can arise between landlords and tenants regarding rented accommodation. In many cases, these disputes can be resolved informally between both parties. Sometimes however, it is necessary to get an independent and impartial third party involved. A third party can hear both sides of the story and decide on the most appropriate resolution. A private residential tenancy means a tenancy that is agreed privately between a landlord and a tenant. a tenant aybe renting a room in landlords home,in which case,a legal rights are different from those in private residential tenancies.