[eweissenbach]

Originally Posted by eweissenbach

We rented for five years with another couple who have been longtime friends. In that time we never had a contentious disagreement and enjoyed doing things together, he and I golf and pickleball, the ladies Zumba and yoga. We looked at homes during that time to buy as co-owners. We checked with TV and were assured that up to four owners on the title would qualify for resident IDs. The complications would be primarily in the case of a death, or a change of mind by one of the couples. This could be addressed with a legal buy-sell agreement, specifying the terms under which those complications would be addressed. (I am a CLU/ChFC with 25 years in financial services) We ultimately decided to buy individually and currently own homes in Sanibel, about three blocks from one another. If you can be relatively certain you can get along extremely well with the other party, co-ownership can offer some advantages - sharing the cost of buying - sharing the costs of maintenance - sharing the taxes, utilities, amenity fees etc.

Originally Posted by tophcfa

Just a thought on co-owning or room-matting. There is a deed restriction that says Villages homes are only to be used as single-family residences. I suppose if you are co-owning or room-matting with a close relative, like a brother or sister, all would be good. But if someone wants to pursue these options with an unrelated party, you would most likely be violating a deed restriction. Since it's an internal deed restriction, it is doubtful it would be enforced, but you still would have to live with yourself knowing the violation. I guess that decision would put you in the same place as the many Villagers that rent rooms out if their home, while the are living there, using Air BNB or similar services?

When considering buying as co-owners we checked with The Villages and were assured it was NO PROBLEM and that resident passes would be issued to up to four people that were on the title.