When more than 1 Borrower is entered, an option to order a TIC and indicate which Owner will be Managing can appear. Lender may wish to include its requirements for a Tenancy in Common Agreement, such as:
- The agreement must specify when all or a majority of the owners' consent is required.
- The agreement must list Lender as a third-party beneficiary.
- The agreement must prohibit owner from seeking to partition the property.
