The advantage of this method is that the parties in the ownership need not be married or related.
The downside is that any financing or use of the property for financial gain must be approved by all parties and cannot be transferred by will after one passes. If the parties are not married, in order to get out of the title, they must petition the court to divide the property or order its sale.
Another large disadvantage is that a creditor that has a legal judgment to collect a debt from one of the owners can also petition the court to divide the property and force a sale in order to collect on its judgment. In this method, each of the owners takes a risk in the other’s financial choices.
Price: $18,000
Area: 2300ft
Type: Slider
Bedrooms: 3
Bathrooms: 3
Garages: 2
Status: For Sale
Shop: 10 km
School: 5 minutes
University: 5 km
Airport: 20 km
City center: 10 minutes
Hospital: 2 km
CPT stop: 1 km
Property ID: 1000
Available From: 2000
Year Built: 2010
Exterior Material: Exterior Material
Structure Type: Structure Type
AC: AC
Acres: Acres
Bedroom Features: Bedroom Features
Cross Streets: Cross Streets
Dining Area: Dining Area
Disability Access: Disability Access
Entry Location: Entry Location
Exterior Cnstruction: Exterior Cnstruction
Fireplace Fuel: Fireplace Fuel
Fireplace Location: Fireplace Location
Legal Desc: Legal Desc
Lot Description: Lot Description
Lot Size Source: Lot Size Source
Misc Interior: Misc Interior
Sewer: Sewer
Source Of Sqft: Source Of Sqft
Terms: Terms
View Desc: View Desc
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