Re: How would this work-property already owned by someone...
From: Sharon Villines (sharonsharonvillines.com)
Date: Wed, 30 Oct 2013 13:15:30 -0700 (PDT)
On Oct 30, 2013, at 3:52 PM, MJWB <mjwyogini [at] yahoo.com> wrote:

> 
>     I had asked the group previously how to switch a single owner over to 
> cooperative housing.
> [clip] What would happen to the owner's equity in the property, as he's owned 
> it for about
> 10 years now...how would he reap something out of the sale to a cooperative? 
> Or to Retrofit Cohousing? 

One way would be to form an LLC or other entity -- condominium etc. And he 
would sell the units to the LLC or other legal entity and it would sell to the 
other parties. If it were to be a condominium, the owners of the units would be 
part of an owner's association with bylaws, etc.

Sharon
----
Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org





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