Kara McGuire, who writes the newer Ka Ching! feature for 20 and 30-somethings, tackles the issue of owning a home with a friend and its potential pitfalls in today’s Star-Tribune:
- You may one day hate the person you now like enough to buy a home with
- If you create a legal document that protects both parties you’ll be OK
- Consider setting up a joint account to fund common maintenance and repair projects
- Understand the difference between joint tenancy and tenants-in-common
- Owning does not guarantee your co-owner/roommate will stop eating all your food
The Trouble with Roommates [Star-Tribune]
Related Links:
- Self-help Legal documents for Real Estate [www.nolo.com]
- Find an Attorney to help if your agreement is more complicated [www.findlaw.com]
- Another good article on how to protect yourself if you own property jointly [Realty Baron]
Related posts:
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