April 11, 2008 -
Financial Digest
The Tenant-In-Common Association (TICA) promotes one of the highest ethical standards in the commercial real estate industry with the release of its new 2008 Guide to Certain TIC Best Practices.
TICA is dedicated to educating tenant-in-common (TIC) professionals including sponsors, broker-dealers, registered representatives, real estate brokers, attorneys, accountants and due diligence firms and encouraging the highest ethical standards to better serve the investor. The new guide will improve the quality and consistency of TIC investments for the investor.
While taking real estate, securities, tax and lender regulations into account, the guide informs TIC professionals how to properly structure, disclose, sell and manage TIC investments. This guide is an enhanced version of the 2006 Guide to Certain TIC Best Practices produced by TICA. It has been improved in many areas including source and uses of offering proceeds, sponsor track record disclosure in the Private Placement Memorandum (PPM), general solicitations, investor communications and gifts, travel, entertainment and personal purchases.
The guide is available to all members, and all members are strongly encouraged to adopt the best practices into their everyday business practices.