These days, not everybody wants to, needs to, or can even afford to, buy a property outright on their own.
If you’re considering buying a house with a partner but worried the relationship won’t last as long as the property? Don’t hesitate, the Tenant in Common Exchange (ticX) will provide you with the platform to sell your share.
ticX Chairman, Peter Llewellyn, has today announced the soft launch of the ticX trading platform that allows developers, builders, renovators, real estate agents and private vendors to legally offer their properties as being ‘available for shared ownership’.
Llewellyn said, “Under tenancy in common law people can buy an ownership share of a property registered on title proportionate to what they have paid. On ticX, that ownership share can be traded separately to the property itself as a whole.”
“Tenancy in common ownership of real estate has been around for a long time, but it’s never been commercialised until we developed ticX. There’s never been a trading platform where a co-owner share in real estate could be independently traded, until now,” he said.
The ticX trading platform enables investors to directly acquire a share in a property with other like-minded parties, sharing expenses, rental income and capital value proportionate to the percentage held and each co-owner is separately registered on title. This is often referred to as either shared ownership, co-ownership or tenancy in common.
Giving developers, agents and private vendors the power to seek sales via ticX opens up a whole new market to them.
The exclusive member logo ‘ticX Listed’ when placed on site signs and advertising is the indicator an ownership share can be purchased.
Llewellyn went on to say, “ticX is the only centralised real estate trading platform providing an investment pathway for the rentvestor……this group is emerging as an economic force because of a cultural change caused by a number of new socio-economic factors, affordability being one!”
A rentvestor is a person who is unable or unwilling to purchase a property outright as their principal place of residence who chooses a less risky path by being a long-term renter whilst purchasing an investment property or an affordable ownership share.
In this modern age of democratisation and sharing concepts, ticX leads a wave of property innovation, bringing more choice to consumers while growing an exciting new market for the entire industry.
The introduction of the ticX trading platform means that thousands of buyers and investors who previously thought they could not get a foothold on the property ladder, now can. …… and asset rich older Australians can list a share of the property they reside in for sale. ticX is a game changer, it changes everything!!” he said.
For further information about the TICX contact:
Contact Peter Llewellyn