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The only situation of shared ownership that I am familiar with was withing an extended family. Three couples each bought one third. Overall it was a success but I heard second-hand of disagreements among the parties and the difficulty of sorting it out. For example, "I think we should remodel the kitchen". "We should replace the carpeting" etc. This group was very cooperative on splitting up the time but I believe that could become a source of frustration as well.
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What a great way to make friends your enemies
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OP asked a simple question, and 3 pages later, nobody has answered it. Just 3 pages of pearl clutching keyboard warriors who are all legal and real estate experts in their own minds. The paranoia here is really sad. |
I don’t know; if everyone posts, maybe that will discourage people from considering a fractional share partnership.
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I think this could work out if everything was spelled out, agreed upon and executed legally. We would be interested in doing something like this. Have you been able to find anyone that has done this successfully? We will be in Orlando next week.
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