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Clear and Complete Information From Co-Ownership Experts

This site contains information on all types of fractional real estate and shared property ownership, including tenancy in common (also known as tenants in common and TIC), fractional vacation homes and clubs, equity sharing, homeowner associations, investment LLCs and partnerships, syndication, and crowdfunding. It provides both basic information for homeowners or home buyers with no real estate background, and more sophisticated information for developers, syndicators, real estate professionals and attorneys.


Special Topical Reference: Proposition G, a punitive tax on the sale of property held for less than five years, will be decided by San Francisco voters in November. The Prop G tax would start at 24% if the property was resold within one year, computed on the full sale price; in other words, the tax on a property sold for $3M following an 11 month holding period would be an astonishing $720,000. The Prop G surtax would be imposed on properties of 2-30 residential units. Commercial properties and single family homes would be exempt from Prop G. Condominiums would also be exempt provided they were purchased as condominiums (rather than converted). Properties that have been occupied as principal residence by an owner of at least a 10% interest for the year prior to sale would also be exempt from the Proposition G tax. (Read The full text of Prop G).

Special Topical Reference: As of June 11, 2013, there is new condominium conversion law in San Francisco. For the latest information, see the article entitled New TIC Condo Conversion Law.

Video of 4/2014 New TIC/Condo Conversion Law Workshop For Owners

Video of 7/2013 New TIC/Condo Conversion Law Workshop For Owners

Video of 4/2014 TIC/Condo Conversion Law Workshop For Realtors

Video of 7/2013 TIC/Condo Conversion Law Workshop For Realtors, Part 1

Video of 7/2013 TIC/Condo Conversion Law Workshop For Realtors, Part 2

Specific Articles Organized By Co-Ownership Type

We offer separate resource pages on various types of co-ownership, each with overviews, FAQs, detailed explorations of specific issues, and relevant laws, newspaper articles, books, and other resources. Simply follow the links below.

Fractional Ownership For Vacation Homes and Resorts
Owning a vacation home in fractional ownership with a small group of family, friends or even strangers, or participating on a more organized private residence club, destination club, or other fractional ownership arrangement, is the fastest growing trend in second home ownership. These arrangements can involve a single home, or a large resort, and can be organized by a small group of family or friends, an individual buyer or seller, a Realtor, or a developer. This link leads to articles and resources on fractional ownership and development of vacation or resort property.
Tenancy In Common (TIC)
Learn about tenancy in common (TIC) and explore the many ways tenants in common ownership is used. Our office pioneered use of tenant in common ownership with a TIC Agreement giving each owner an exclusive right to occupy a particular space (such as an apartment, house or office) within a residential or commercial property. Assigning owner-occupancy rights in a TIC agreement creates an arrangement that feels and acts like a subdivision when legal subdivision is impossible, unaffordable, or too time-consuming. This link leads to articles and resources on tenancy in common in general, and TIC arrangements used as an alternative to legal subdivision.
Condominium Conversion and New Construction Subdivision
This link leads to articles and resources on subdivision of real estate and conversion to condominiums. Our office has completed more than 3600 condominium conversions.
Equity Sharing
Equity sharing is a solution for homebuyers who cannot afford a down payment or cannot qualify for a loan. Equity sharing can also be a way for relatives, friends, employers, and religious or educational institutions to help someone buy a home while obtaining investment return and tax benefits. In equity sharing, two parties, an "occupier" and an "investor", pool resources for the down payment on a home. For an agreed number of years, the occupier lives in the home. Then, the occupier buys out the investor or the property is sold. Each owner recovers their contributions, and any appreciation is shared. This link leads to articles and resources on equity sharing as well as basic information of interest to first-time home buyers.
Shared and Family Ownership
There are an infinite number of reasons and ways shared property is held, many falling outside established co-ownership categories. For example, family members inherit property from parents or other relatives, groups of friends or family buy property together, and people with shared beliefs, interests, goals or hobbies decide to pool resources. This link leads to educational articles and resources for anyone thinking of becoming involved, or already involved, or in any type of family or shared ownership.
Amendment and Modernization of CC&Rs and Other Condominium Documents
Homeowners associations should periodically replace older CC&Rs and bylaws so they adhere to current law and "best practices". Updating HOA governing documents can make it easier to sell and refinance, and minimize the likelihood of owner disputes and operational problems. Condominium and planned development owners also amend their covenants, conditions and restrictions (CC&Rs), bylaws, rules, map, or other governing documents to recognize construction of garages, decks or room additions, or to reflect changes adopted by the owners.
Operating A Homeowners Association
This link leads to articles and resources designed for members of condominium, planned development and TIC homeowners associations, as well as the many Realtors, managers, accountants and other professionals who deal with these associations. They provide the answers to commonly asked questions about forming and operating an HOA, and the text of many laws governing these associations. To learn more about the homeowners association startup, ongoing counsel, and document interpretation legal services offered by Sirkin & Associates, visit Our Services.
Limited Liability Companies (LLCs)
The articles, links and resources on this page relate specifically to limited liability companies (LLCs), a form of business entity recognized in all 50 U.S. states and may other jurisdictions. LLCs can be used for all types of businesses, including real estate investments. They can also be used for real estate that will be partially of fully occupied, used or shared by the LLC owners, but this application is rarer and raises complex organizational and documentation issues.
Investment Groups, 1031 TICs, Crowdfunding, Syndications, Securities
This link leads to articles and resources on real estate investments, including tax-deferred exchange (1031) TICs, limited and general partnerships, limited liability companies, and offering and raising money for real estate investments (including crowdfunding and private offerings).
Mediation and Dispute Resolution
This link leads to articles related to resolving disputes among co-owners of real estate, including homeowners associations (HOAs), tenancy in common (TICs), family partnerships, investor groups, and other shared ownership arrangements relating to real estate. To learn more about the mediation and dispute resolution services offered by Sirkin & Associates, visit Our Services.


Sample Agreements and Document Templates

We also provide sophisitcated but low-priced sample agreements and document templates for many co-ownership arrangements including real estate investment agreements, co-ownership agreements for unmarried couples and domestic partners, equity sharing agreements, and LLC operating agreements and other documents. These templates are comprehensive, yet written in plain English, not too long, and easy to customize.

Sample Agreements, Forms & Templates


Specialist Lawyers For All Your Co-Ownership Needs

Our law practice is devoted exclusively to fractional ownership, including vacation homes and resorts, tenancy in common (TIC) for both occupancy and investment, subdivisions and condominium conversions, equity sharing, shared appreciation mortgages, investment partnerships, crowdfunding, private securities offerings, and other co-ownership matters. We work on projects ranging from individual homes to large developments, and represent sellers, buyers, developers, and real estate professionals of all kinds.

From our offices in San Francisco California and Paris France, we have worked on projects all over the world, including most U.S. States, as well as England, Italy, France, Spain, Portugal, Ireland, Morocco, Argentina, Nicaragua, Costa Rica, Panama, Dominican Republic, Barbados, Bermuda, St. Kitts, Belize and Mexico. Since 1985, we have prepared fractional ownership documentation for over 6,000 clients.

In addition to advising clients, Andy Sirkin has personally developed more than 35 real estate projects throughout the world, and managed a successful real estate brokerage. He is an accredited instructor with the California Department of Real Estate, and frequently conduct fractional ownership workshops for buyers, sellers, developers, and real estate agents. He is a vocal advocate for creation of affordable home ownership opportunities, has made numerous appearances on San Francisco Bay Area television and radio, and addressed the Commonwealth Club of California. Andy is the co-author of The Condominium Bluebook, published annually by Piedmont Press, and The Equity Sharing Manual, first published by John Wiley and Sons in November 1994 (order the book).

Rosemarie MacGuinness has practiced with SirkinLaw APC since 2006, focusing on shared ownership of small buildings in San Francisco. She has prepared hundreds of tenancy and common agreements, condominium CC&Rs, and related amendments for 2-4 unit buildings, and advised buyers, seller, Realtors and developers on all aspects of small-building transactions. Rosemarie is also a certified mediator specializing in co-owner disputes including nonpayment, expense allocation, maintenance/alteration, and noise. She has advised and drafted language for the San Francisco Association of Realtors and Sterling Bank & Trust, and regularly publishes articles and presents educational workshops. Rosemarie also has over 20 years experience as a litigator with a major construction law firm, as in-house counsel and Director of Arbitration at a securities exchange, as a real estate broker, and as a rental property owner.

Contact Us:
Our email address is dasirkin@earthlink.net. We welcome brief email inquiries, but do not provide legal advice via email. To learn more about legal services offered by SirkinLaw APC, visit Our Services or contact us by telephone at either +1-415-738-8545 (US) or +33-1-76-66-02-02 (France). Our mailing address is 388 Market Street, Suite 1300, San Francisco, CA 94111.
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