Re: Owning units in cohousing communities as tenants in common.
From: Fred H Olson (fholsoncohousing.org)
Date: Thu, 10 Jan 2008 04:19:11 -0800 (PST)
On Thu, 10 Jan 2008, Joani Blank wrote:

> So I'm wondering if anyone has purchased a 2, 3 or more-bedroom unit
> in a cohousing community and owns it with another individual or
> couple as tenants in common.

I have pondered something like this from time to time including yesterday
when a retired woman called.  She is reluctant to buy a house herself and
would prefer to rent a smaller unit.

I have pondered an entity other that the occupant owning a large house
that was shared by several people.  This would allow all occupants the
possibility of moving without having to change ownership of the unit.

The ownership entity might simply be a member who lives elsewhere in the
community.  One complication that makes me reluctant to own another house
is that I dont really want to be responsible for maintenance for another
house.

As I recall, N Street in Davis, Calif has had a number of examples of
something similar to this over the years.  Anyone know more about their
experience?

Anyway Joani I suggest something a bit more general than
"Seeking potential Co-owners" like "Shared unit possibilities"
which leaves the ownership open as well as making an ad for a unit
available that has potential for being shared.

Fred

--
Fred H. Olson  Minneapolis,MN 55411  USA        (near north Mpls)
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612-588-9532 (7am-10pm CST/CDT)   Email: fholson at cohousing.org


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