Cohousing-L Mailing List: TIC vs LLC

[Birger Stamperdahl (birger]

Hello,

I live in a small community in Berkeley, currently with six adults and three
children living in a large home. We are making changes to the property's
ownership, and I'm wondering if anyone knows of an expert or resources in
the Bay Area who we can talk to about choosing between Tenants in Common vs.
forming LLC. We want to share the house, and have no plans of splitting it
into separate properties.

A bit more detail, three people are currently on the mortgage. One of the
people, who does not live in the house, wants to sell her third, and is in
no rush to sell as we figure out the best route to take. As she is selling
her third, two adults living in the house (including me) wish to buy in and
split the mortgage with the other two existing owners.

If anyone can point us to a resource in the Bay Area who could help us, we
would definitely appreciate it.

Thanks!