LogFAQs > #931141160

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Topic	I now own property with 5 other people
VintageGin 12/05/19 11:37:43 AM #8:	KingButz posted... How are you arranging to divide the equity in case someone needs to take off? We have a Tenancy in Common contract that a lawyer wrote up for us that gives the other owners right of first refusal in the event something like that does happen. There's also a whole procedure where someone can sell their share to an approved person outside the TIC with approval from enough members. It does admittedly get messy if neither of those options is viable though. --- Ginhyun https://imgur.com/t7G7uoU <cite>VintageGin posted [p:931141160] in I now own ... [t:78228654]...</cite> <quote>KingButz posted... </cite> <quote>How are you arranging to divide the equity in case someone needs to take off?</quote> We have a Tenancy in Common contract that a lawyer wrote up for us that gives the other owners right of first refusal in the event something like that does happen. There's also a whole procedure where someone can sell their share to an approved person outside the TIC with approval from enough members. It does admittedly get messy if neither of those options is viable though. --- Ginhyun https://imgur.com/t7G7uoU</quote> ... Copied to Clipboard!
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