-No owners live in the property.
-Each own the building as tenants in common with 25% interest.
-All share in profits and losses of the property.
-No type of written owners agreement exists.
-No entity exists e.g.LLC.
-However an agreement with a property manager exists signed by all 4 owners.
Are we a partnership or are we simply 4 individuals who own separate TIC interest.
If we are partnership, do state laws govern our partnership. If so, which laws?
In the absence of any agreement, I would like to assert to the owners that our relations to each other are governed by state laws (e.g. "California Code - Article 4: Relations of Partners to Each Other and to Partners") which would provide for a framework of conduct i.e.fiduciary duty, access to records, majority rule.)