Real Estate News From Around The World February 9, 2012

How Can Our Family Buy Real Estate Together? Question: How can our family buy real estate together? Answer: There are a number of choices, including: Equity-sharing deals. These have potential for everyone if a home in poor condition is purchased and the adult child will put in the sweat equity required to fix it up. Partnerships. Family partnerships are common but everyone has to understand their obligations. A corporation could be formed, with shares for everyone. The problem here is selling shares in a small entity if someone wants out. All familial arrangements should be based on a written agreement developed by an attorney, wills and living wills for everyone, and advice from a tax professional for each party. Also, speak with lenders before making a final arrangement. Some approaches may be easier to finance than others. © 1997 Peter G. Miller. All Rights Reserved. Written by Peter G. Miller. © 1997 Peter G. Miller. All Rights Reserved. Rules, Disclaimers & Notices. Click here for a printer-friendly version of this article. Click here to translate this page to another language. Copyright © 2012 Realty Times. All Rights Reserved. Send Us Your Comments