Submitted by SD Realtor on July 12, 2008 - 2:33pm.
Divided ownership is nothing new. Title may be held in many different ways. Plenty of condos down in Mission Beach have joint tenancy and such. It is nothing I would do but others have for certain types of investments.
Submitted by JustLurking on July 12, 2008 - 8:39pm.
I suppose you are right. I can see divided ownership with friends/family, or even with several others as part of an investment group. I just can't imagine going 50/50 with one other owner that you don't know. Especially in this market. It is hard to see the upside for the buyer.
A house we bought was deeded to the sellers as "an unmarried man and an unmarried woman". When they sold it to us, the deed described them as "Husband and Wife". Good things may happen via joint purchase!
Lots of my friends in San Francisco did "tenant in common" deals years ago. It was quite common. Smart, too. They could never afford their properties in this market, and their mortgages are less than my rent.
Divided ownership is nothing new. Title may be held in many different ways. Plenty of condos down in Mission Beach have joint tenancy and such. It is nothing I would do but others have for certain types of investments.
I suppose you are right. I can see divided ownership with friends/family, or even with several others as part of an investment group. I just can't imagine going 50/50 with one other owner that you don't know. Especially in this market. It is hard to see the upside for the buyer.
A house we bought was deeded to the sellers as "an unmarried man and an unmarried woman". When they sold it to us, the deed described them as "Husband and Wife". Good things may happen via joint purchase!
It's also common practice in san fran.
Lots of my friends in San Francisco did "tenant in common" deals years ago. It was quite common. Smart, too. They could never afford their properties in this market, and their mortgages are less than my rent.