Co-owned second homes
How does shared ownership in a house work?
In shared ownership, interested parties — usually friends or relatives — divide the value of a home into shares, with each share of the property worth a certain percentage or fraction of the home. The co-owners can determine these percentages based on any number of factors, including but not limited to:- The square footage each co-owner will utilize (for primary residences)
- The amount of time each co-owner will spend in the home (for second homes)
- The amount of money each co-owner is willing to invest (for investment properties)