Regular readers of this column know that over the course of its three-year run I have never mentioned 1031 tax-deferred exchanges. Yet type “TIC”, “tenancy in common”, or “tenants in common” into any internet search engine and the vast majority of the millions of results one finds offer information relating to 1031 exchanges. This fact, coupled with an increasing volume of calls and emails relating to TICs and tax-deferred exchanges, or expressing confusion between issues relating to “1031 TICs” and the “subdivision-analogue TIC” arrangements generally discussed in this column, have inspired me to address the topic. Since the topic is large and somewhat complex, this will be the first of two consecutive TIC Corner articles addressing the issue.
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