Tenancy in common - the HOT issue
While the city of San Francisco lowers the boom on condo conversions, capitalism and the free market still find a way to beat the system.Condominium conversions are a way to turn multi-unit buildings into separate residences to be bought and sold at will, however, San Francisco keeps passing laws to make it harder and harder to do this. The solution? Tenancy in common.
In the past, this form of ownership was terribly complicated. However new financing options are making TICs more attractive. So much so that financial institutions and title companies are beginning to give seminars on them.
Goldstein, Gellman, Melbostad, Gibson and Harris, LLP are sponsoring a FREE workshop on Thursday, June 7, 2007 from 6:30 - 8:30 PM at the Fort Mason Center, Building A in the Golden Gate Conference Room. Topics include:
- TIC agreements
- Mortgage assumptions
- Seller carry-back loans
- Refinancing upon partial resale (one of the biggest issues when one of the owners wants out)
- NEW fractional TIC mortgages
- Approving prospective TIC parties
- New and future legislation updates
- Condominium conversion issues
- Landlord-tenant issues
- Title and escrow issues in TIC resales
- Unlimited Q&A
Reservations are required, so contact Jeannie Q Gant of Financial Title Company at 1388 Sutter St., #1220. She can be reached by e-mail at jgant@financialtitle.com or by phone at 415-215-7146. Tell her Janis Stone or Christine Serventi invited you.
- Janis Stone
posted by SFResidence.com @ 7:32 AM
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