Tenancy in Common (TIC) in Indian Real Estate:

Tenancy in Common (TIC) in Indian Real Estate: Tenancy in Common (TIC) is a legal arrangement in which two or more parties jointly own a piece of real property, such as a building or a parcel of land. This structure allows each party to hold a distinct share of the property, adding flexibility and shared responsibility to property ownership. A significant feature of a TIC is that any party can sell their share of the property independently and also reserve the right to pass on their share to their heirs, making it an attractive option for estate planning. Prevalence of Tenancy in Common in India: TIC arrangements are most prevalent in urban areas of India, especially in bustling cities like Mumbai, Delhi, Bengaluru, and Chennai. In these densely populated regions, where real estate prices can be prohibitive, TIC enables multiple investors to co-own properties, which makes it easier to enter the property market together. This arrangement is commonly utilized in residential complexes and...
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Should the tenant also receive a copy of Notarized Rental Agreement ?

 Should the tenant also receive a copy of Notarized Rental Agreement ?

Yes, in most cases, the tenant should receive a copy of the notarized rental agreement. The rental agreement is a legally binding document that outlines the terms and conditions of the lease between the landlord and the tenant. Both parties typically retain a copy of the notarized agreement for their records. This copy serves as proof of the agreed-upon terms and can be helpful in case any disputes or clarifications are needed during the tenancy. It's a good practice to ensure both parties have a copy of the signed and notarized rental agreement.

Disclaimer: Please take advise of a Real Estate Lawyer before taking any decisions.

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