From experience, basically no banks take collateral on co-owned homes. You probably won’t run into problems like that specifically. You can also easily structure an agreement with a lawyer. In many states you have to have an attorney to buy a home anyway (CT, MA, GA, DE, KY, LA, MD, MI, NH, ND, OK, RI, VT, WV, WO). We used ours to write and tack on the equivalent of an HOA arrangement you’d see in a condominium for our shared rooms.
I do find it amusing we have redditors arguing landlords should be illegal and others arguing co-ownership is a bad idea. Yes, let’s build millions of single room houses for everyone who is single that span the entire continent.
From experience, basically no banks take collateral on co-owned homes. You probably won’t run into problems like that specifically. You can also easily structure an agreement with a lawyer. In many states you have to have an attorney to buy a home anyway (CT, MA, GA, DE, KY, LA, MD, MI, NH, ND, OK, RI, VT, WV, WO). We used ours to write and tack on the equivalent of an HOA arrangement you’d see in a condominium for our shared rooms.
I do find it amusing we have redditors arguing landlords should be illegal and others arguing co-ownership is a bad idea. Yes, let’s build millions of single room houses for everyone who is single that span the entire continent.
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