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Many commercial property owners are continually looking for the next big opportunity to expand their real estate investments, while minimizing costs and management responsibilities. A trend in real estate ownership over the past decade—1031 triple net (NNN) tenants in common exchanges—promises to accomplish this. However, this type of property acquisition may have serious pitfalls in today's economy—namely, the bankruptcy of the property management company, or sponsor. A well-drafted tenant-in-common agreement can prepare for that risk.
