Legal Question in Real Estate Law in California

TIC's were all the rage for some time to avoid condo-conversion prohibitions and restrictions. Many of us in the real estate world, however, have long referred to them as tic-toc's because of all the latent potential for conflict and legal problems lurking in the arrangement. Real estate values in free-fall are just the latest source of TIC problems. I can pretty much guarantee that you will have challenges with your lender trying to get them to agree to a short sale of a TIC. Unfortunately, other than that general observation, I can't offer you any help because the answers to your questions would require a review of the underlying transactions and documentation.