Re: Real Estate Gifts?
From: Sharon Villines (sharonsharonvillines.com)
Date: Mon, 29 Mar 2021 11:06:02 -0700 (PDT)
> On Mar 29, 2021, at 1:51 PM, Lyn Deardorff <lynpeachtree [at] outlook.com> 
> wrote:

>  It appears one of our current residents is considering such a move to donate 
> his unit to us and is working with his lawyer to include it in his estate 
> planning.

What a wonderful gift! I have no information or experience but obviously 
consult a lawyer. The Association (or whatever legal designation you have) 
would own the property. Our legal documents do have general provisions for 
selling the common areas that are owned by all of us in percentages.

One use is by the community at large, not rented to a household that couldn’t 
otherwise afford to live there. Or rented on a short term basis to people 
wanting to experience cohousing. DC has lots of people in town from all over 
the world who have 6-12 month fellowships or research grants, some 24 months, 
who need places to rent and welcome the community setting.

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




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