Shared Ownership of Units / Parcels -- Creative Legal Possibilities?
From: sher (
Date: Sun, 13 Jul 1997 16:38:57 -0500
Dear Cohousers,

Newly forming Placerville (CA) Cohousing would appreciate any
information about "shared equity."  If a subgroup of the whole wished to
purchase a single parcel and construct 3 units on it (main house with
attached living unit and a granny flat), is there a creative legal
entity which would prevent any single co-owner of the parcel from
forcing the sale of parcel if one of the parties wanted out?

Can coowners of such a parcel execute a legal document requiring that
all owners must agree unanimously before any single owner sells or
transfers their title to somebody else?  And that they can't sell
without the new buyer agreeing to execute an identical document?  Is
there any simple and clean way to do this kind of shared ownership?  Or
must cohousers who wish to buy property in this fashion simply rely on
old-fashioned trust and cooperation to make it work?

Ben Sher
Placerville Cohousing

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