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What are the differences between tenants-in-common and Limited Partnership ownership? |
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Tenants-In-Common ownership is typically a much safer, more protected form of investment than is a Limited Partnership. In tenants-in-common ownership, for example, each of the co-owners actually holds title to the property, and so has both many more legal rights and more control over key decisions than would a Limited Partner. Owners of Limited Partnerships, for instance, have no control over decisions such as who manages the property or when a property might sell. Co-owners of a tenants-in-common property, on the other hand, retain certain voting rights that include hiring of a property manager and determining the sale or disposition of the property.
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