|Re: Shared Ownership of Units / Parcels -- Creative Legal Possibilities?||<– Date –> <– Thread –>|
|From: Linda Felch (lfelchwelchlink.welch.jhu.edu)|
|Date: Mon, 14 Jul 1997 12:51:06 -0500|
This Spring, Heathcote Community purchased an additional 7 acres including farmhouse and barn. We set up a Limited Liability Corporation (LLC) to handle agreements such as those that you are talking about. I think the rules on LLC's are different across states -- we're in Maryland. *** > 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? *** Linda Felch lfelch [at] welchlink.welch.jhu.edu http://www.welch.jhu.edu/~lfelch/heathcote.html Baltimore, MD
Shared Ownership of Units / Parcels -- Creative Legal Possibilities? sher, July 13 1997
- Re: Shared Ownership of Units / Parcels -- Creative Legal Possibilities? Linda Felch, July 14 1997
- Re: Shared Ownership of Units / Parcels -- Creative Legal Possibilities? Mac Thomson, July 16 1997
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