Discussion:Tenants In Common Debt
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| 16 September 2006 | |
| My client is forming a TIC with a building he 1031'd into last March. He is guaranteeing all the debt. No other TIC or person coming into this deal will have their name on the mortgage note. I believe each person coming into a TIC arrangement had to guarantee the loan up the the % they own. I think what will happen if only one person is on the note and personally guarantees it that a parternship would be actually established regardless of the intent of my client.
Thanks for some guidance! Lois | |
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