The story
Why we built this
Housing affordability is one of the defining issues of our time. In every English-speaking market — the United States, Australia, Canada, the United Kingdom — the gap between median incomes and property prices has widened to the point where sole ownership is simply out of reach for a growing proportion of the population.
At the same time, Tenancy in Common has existed as a legal structure for centuries. It allows multiple people to own defined, separate, independently tradeable shares in real property. Each co-owner can buy, sell, or mortgage their share independently. There is no minimum share size. No joint liability between co-owners for each other's mortgages.
The missing piece was always a dedicated exchange — a place where TIC shares could be listed, discovered, bid on, and traded. That is what tic.exchange is.
In the United States, TIC structures have additional significance as an IRS-approved vehicle for Section 1031 tax-deferred exchanges — making tic.exchange directly relevant to one of the largest property investor communities in the world.
The founder
40 years in the making
Tony Puls is a Brisbane-based entrepreneur and real estate professional who has been running his own businesses in real estate and capital raisings since 1978. He spent approximately 40 years developing a legally compliant trading exchange for Tenancy in Common shares in real property — a concept he first brought to public attention in the Australian Financial Review in 2003 and 2004.
The advent of the TIC exchange is, in Tony's view, probably the biggest thing to happen to the real estate market since Strata Title was introduced in 1961. Just as the stock exchange revolutionized the corporate world by making it easier for people with less capital to invest in companies, the TIC exchange does the same for real property.
tic.exchange is the culmination of that work — bringing the TIC exchange concept to the US and international markets at a time when housing affordability has reached crisis levels globally.
"Property is getting more expensive but people still want a piece of it. Using the Tenancy in Common law, people can buy a portion of a property and own a title covering that portion."
— Tony Puls, Australian Financial Review, 2003"Agents can sell a $50,000 share of a property — that can be traded, for the first time. It's a whole different ball game."
— Tony Puls, Australian Financial Review, 2004"TicX is probably the biggest thing to happen to the real estate market since Strata Title was introduced in 1961."
— Tony Puls, FounderPress coverage
Two decades ahead of the curve
The concept behind tic.exchange was covered by the Australian Financial Review in 2003 and 2004 — more than 20 years before housing affordability became a defining global issue. Download the original articles below.
Brisbane entrepreneur Tony Puls launches an accreditation service allowing real estate agents to sell fractions of property — building a national online trading system for buying and selling fractions of properties using Tenancy in Common law.
📄 Download articleThe launch of the Tenancy in Common Exchange (ticX) from the Gold Coast — the world's first dedicated marketplace for fractional real estate ownership through Tenancy in Common structures. Banks expressing interest in lending against TIC interests.
📄 Download articleLegal entity
About TICX Pty Ltd
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