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Business TIC Document

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Business Tenancy-in-Common Agreement

Parties

Recitals

WHEREAS, Party A and Party B (each a Party and together the Parties) desire to hold, own and operate certain real property as tenants in common for the mutual business purposes described below; and

WHEREAS, the Parties intend to set forth their respective contributions, percentage interests, allocation of income and expenses, management responsibilities, and procedures for transfer, dissolution and dispute resolution in a binding agreement;

WHEREAS, the Parties agree that this Business Tenancy-in-Common Agreement (the Agreement) will govern their rights and obligations concerning the Property described below as of the Effective Date.

Property

Ownership Interests and Contributions

Party A holds an undivided percentage interest of and Party B holds an undivided percentage interest of in the Property, subject to adjustment as provided in this Agreement.

Scope of Work

The Parties shall perform the following activities with respect to the Property. The scope describes each Party's responsibilities for management, maintenance, leasing, capital improvements and third-party contracting.

Payment Terms

The Parties agree to the following contributions, distributions and payment schedule for operating expenses, capital expenditures and distributions of net revenues.

Payments shall be made in advance, due on or before the day of each payment period.

Term and Termination

This Agreement shall commence on the Effective Date of and continue until terminated on unless earlier terminated in accordance with this Section.

Either Party may terminate this Agreement for cause upon written notice and an opportunity to cure as provided herein. For non-breach termination, a Party shall provide written notice at least days in advance.

Confidentiality

Each Party shall maintain the confidentiality of the other Party's proprietary business information, financial records, leases, tenant data and any non-public material information disclosed in connection with the ownership or operation of the Property ("Confidential Information"). Confidential Information shall not include information that is: (a) publicly available other than by breach of this Agreement; (b) independently developed without use of the other Party's Confidential Information; or (c) rightfully received from a third party without restriction.

A receiving Party may disclose Confidential Information if required by law or valid subpoena, provided that, to the extent permitted, the receiving Party gives prompt written notice to the disclosing Party and uses commercially reasonable efforts to limit the disclosure.

Representations and Warranties

Each Party represents and warrants that it has full power and authority to enter into this Agreement, that the execution and performance of this Agreement will not violate any other agreement or applicable law, and that any information provided to the other Party is true and complete to the best of its knowledge.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to its conflict of laws principles.

Entire Agreement; Amendment

This Agreement constitutes the entire understanding and agreement between the Parties regarding the subject matter hereof and supersedes all prior negotiations, representations and agreements, whether written or oral. This Agreement may be amended only by a written instrument signed by both Parties.

Notices

All notices required or permitted under this Agreement shall be in writing and delivered to the Parties at the addresses set forth above or to such other address as either Party designates by written notice to the other.

Miscellaneous

If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be severed and the remainder of this Agreement shall remain in full force and effect. No waiver by either Party of any breach shall be deemed a waiver of any other breach. Headings are for convenience only and do not affect interpretation.

Party A - Printed Name:

By:

Date:

Party B - Printed Name:

By:

Date:

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What the Business TIC Document Is and when it applies

A Business TIC Document formalizes shared ownership and related rights for a tenancy-in-common arrangement used in commercial or investment property contexts. It records ownership percentages, capital contributions, management responsibilities, transfer restrictions, dispute-resolution processes, and recording instructions so co-owners and third parties can rely on the agreement and the recorded deed.

Why a clear Business TIC Document matters

A well-drafted Business TIC Document reduces ownership disputes, clarifies financial and management obligations, preserves priority on recorded title, and supports lender and tax reporting requirements while enabling secure electronic execution and verifiable signatures.

Why a clear Business TIC Document matters

Who commonly prepares or signs a Business TIC Document

Users include co-owners, property managers, lenders, and counsel who need a clear record of interests and duties before or after recording.

  • Real estate investors and syndicators managing fractional ownership and capital contributions.
  • Commercial property managers and asset managers responsible for operations and leasing.
  • Attorneys and title companies preparing transfer documents and recording instructions.

Parties benefit from consistent execution, accurate recording, and retention policies to reduce tax, lending, and title complications over the asset lifecycle.

Core sections to include in a professional Business TIC Document

A complete document organizes ownership, financial commitments, governance, transfer rules, liability allocation, and dispute procedures so co-owners and third parties can interpret rights and obligations without ambiguity.

Ownership Schedule

List each co-owner, their percentage interest, and capital contributions with dates and accepted forms of consideration to show how equity is allocated and taxed.

Property Description

Provide legal description, parcel ID, and any easements or encumbrances so the deed and instrument map to recorded county records without ambiguity.

Financial Terms

Define operating expenses, rent sharing, reserve contributions, distributions, and priority for reimbursement to avoid later accounting disputes among co-owners.

Transfer Restrictions

Specify right of first refusal, buy-sell mechanisms, permissible transfers, and required consents to protect co-owners and lending interests.

Management & Voting

Describe decision thresholds, delegated managers, day-to-day authorities, and remedies for deadlock to ensure operational continuity.

Dispute Resolution

Include arbitration or mediation clauses, governing law, and venue selections so disagreements can be resolved according to a predictable process.

Security and compliance data to include or verify

Data Encryption: AES-256 at rest, TLS 1.2/1.3 in transit
Audit Trail: Timestamp, IP, action log
Authentication: Email, SMS, or advanced MFA
Access Controls: Role-based permissions
Certifications: SOC 2 Type II, ISO 27001
Regulatory: ESIGN, UETA compliance

Step-by-step: completing and executing a Business TIC Document

Follow a clear sequence to prepare, review, sign, notarize, and record the instrument to reduce processing delays and ensure legal effectiveness.

  • 01
    Prepare Document: Assemble ownership data and legal description.
  • 02
    Review with Counsel: Confirm tax, transfer, and lender implications.
  • 03
    Execute & Notarize: Sign in presence of notary or use RON if allowed.
  • 04
    Record with County: Submit deed and instrument to county recorder.

How to set up a secure online completion workflow

Configure signer roles, authentication strength, and storage settings before distributing the Business TIC Document for signatures.

Field Configuration
Authentication Level Email OTP, SMS code, or KBA
Field Types Signature, initial, date, numeric
Conditional Logic Show fields when specific options selected
Storage Location Encrypted cloud or on-premise archive

Typical routing and submission flow for the Business TIC Document

A predictable flow reduces signer friction and ensures each step is auditable from preparation through recording.

  • Upload: Sender uploads PDF or DOCX to the platform.
  • Place Fields: Assign signature, date, and notarization fields.
  • Send to Signers: Distribute in signing order or via signing links.
  • Record: Download executed instrument for county recording.

Distribution channels and technical format requirements

Choose delivery and storage formats that match recorder and lender requirements before execution.

  • File Formats: PDF, Word DOCX, and searchable HTML supported
  • Integrations: Salesforce, NetSuite, Google Workspace supported
  • Access: Role-based access and audit logs

Verify county recorder acceptance of electronic submissions and follow lender or title insurer guidance for accepted formats and acknowledgements.

Timing and recording considerations for Business TIC Documents

Deadlines vary by county, lender, and tax authority; plan for execution, recording, and any transfer-tax reporting windows to preserve priority and avoid penalties.

Execution Timing:

Sign before the effective date specified in the document.

Recording Window:

Record promptly; county priority is generally by recording date.

Transfer Tax:

Some jurisdictions require filing or payment within 30–60 days; check local rules.

Lender Notice:

Provide notices to lenders per loan documents to avoid covenant breaches.

Tax Reporting:

Ensure capital contributions and distributions are reported per IRS rules.

Common preparation mistakes to avoid

  • Using informal or abbreviated owner names that do not match title or formation documents.
  • Failing to include a precise legal description of the property to be recorded.
  • Omitting notary or witness acknowledgments required by the recording jurisdiction.
  • Not checking lender consents, which can trigger defaults or title objections.

Risks and penalties of an incorrect or incomplete Business TIC Document

Recording Delay: Loss of priority
Title Objection: Insurance denial or exceptions
Tax Exposure: Incorrect basis or reporting
Lender Default: Possible loan covenant breach
Invalid Transfer: Transfer restrictions may void conveyance
Signature Dispute: Challenges to authenticity

Pricing & feature snapshot for eSignature solutions (vendor columns)

Compare entry price, trial availability, bulk send capability, audit trails, HIPAA compliance, and envelope limits across vendors to choose a platform that meets recording and security needs.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No cap 100 envelopes/user/year Varies Varies Varies

Practical examples from organizations using digital execution for property documents

Real-world implementations illustrate how digital signing and clear TIC documentation streamline transactions and compliance.

Martin Properties — Founder

Company streamlined closings for rental and sale transactions using online execution and mobile signing

  • Focused on mobile and offline signing capabilities
  • The founder reports that online execution provided consistent compliance and security while enabling faster return of fully executed documents to necessary parties.

Optica Ventures — COO

A small investment firm standardized template use across deals and investors to reduce errors

  • Emphasized ease of use for external investors
  • The COO found the interface straightforward for both staff and customers, improving turnaround for co-ownership agreements.

Frequently asked questions about executing a Business TIC Document

Answers to common legal, technical, and procedural questions to help ensure valid execution and proper recording.


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