We present the Tenerife Inversion Code (TIC), which has been developed to infer the magnetic and plasma properties of the solar chromosphere and transition region via full Stokes inversion of polarized spectral lines. The code is based on the HanleRT forward engine, which takes into account many of the physical mechanisms that are critical for a proper modeling of the Stokes profiles of spectral lines originating in the tenuous and highly dynamic plasmas of the chromosphere and transition region: the scattering polarization produced by quantum level imbalance and interference (atomic polarization), the effects of frequency coherence in polarized resonance scattering (partial redistribution), and the impact of arbitrary magnetic fields on the atomic polarization and the radiation field. We present first results of atmospheric and magnetic inversions, and discuss future developments for the project.