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Volume 1 - Number 8 | August 9, 2005
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TOP STORY: BD, Sponsor Groups Gather to Discuss Best Practices; PLRs Among Hot Topics
By Michelle Napoli
Ad hoc groups of TIC industry participants from the broker-dealer and sponsor communities have met in recent weeks to discuss common issues and best practices, and while it appears that there is general agreement on many of the topics, the two groups do not necessarily see eye-to-eye on everything. Both, however, do agree on one overriding principal: as they put it, “through a cooperative effort, positive changes can be made to ensure a long and prosperous future for the TIC industry.”
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Do Securities Licensees Also Need Real Estate Licenses?
By Michelle Napoli
For all the discussion in the tenant-in-common investment industry about whether TICs are securities and those selling them should have securities licenses, much less talked about is whether securities reps also need to have real estate licenses to place investors in these deals. The underlying product, after all, is real estate, and a deed is transferred from one owner to another.
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Sponsor UpClose: TIC Properties LLC
By Michelle Napoli
The formation in 2001 of TIC Properties LLC came out of a common complaint CEO John W. Boyd heard from clients of his 1031 exchange qualified intermediary business, Boyd Corp. “They couldn't find the type of replacement property they were looking for—they all wanted a high-credit tenant with a long-term lease with no management and no maintenance,” Boyd says.
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