Quote:
Originally Posted by l2ridehd
Alanna, co-ownership only works if the "two couples" have all the details worked out in very good detail in advance. I have seen many more failures than successes with this type arrangement. Vacation homes, planes, boats, have all been tried and have limited success. I have seen a few plane ownerships that worked.
A better solution might be to set up a prior agreement where one owns and the other agrees to rent for some pre-determined amount of time (5 years) at a reduced rate. Having a beginning and end established before buying is a better solution.
The problems that arise are first selecting a home, furnishing a home, than setting up who uses when. Every decision made has to be agreed to by everyone. Lets do new landscape, buying a golf cart, painting the walls a different color, anything you want to do requires consensus from all.
Good luck with what ever you decide, but IMHO I think you are going down a dangerous road.
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I agree very much. In business I have seen almost every small business that was a partnership of friends dissolve in not a friendly manner in less than seven years. EWeissenbach brought this up a couple of years ago. For some, friends are like family but I would be thinking twice.
We have three people as owners of our home. Helene is on our deed.
People who are single argue that having one "pass" is not fair. How you would be able to keep control of ID is another issue. People date different people. A pass for just anyone could be lost...etc. etc. Sometimes things aren't exactly fair...a LOT of things aren't exactly fair. Sometimes you just have to play the hand you're dealt.