Shared housing
From: Alan Carpenter (
Date: Mon, 14 Jul 1997 16:37:42 -0500
Agreements can be created with the standard joint owners in common system
to include what you want. In shared ownership it is important to include
how one can sell their part and to describe the process the process for a
new person to buy in. Another ownership that also could make sense is as a
cooperative where people own shares and can sell their shares. I prefer the
joint owners system with agreements in place, written down and agreed to. 

>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?

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