Also, since such form of co-ownership is not the same as owning a condominium or stock co-operative, this is yet another reason ascribed to why are tenant in common properties so popular. Thus, given the mounting costs of owning properties it should not come as any big surprise to learn that tenancy in common offers people a better chance to own properties and that this is also another reason why are tenant in common properties so popular.
In fact, co-ownership helps to lower the cost of owning the property and this in turn means that buyers have a lot more choice when it comes to owning properties and when certain number of people pool all of their resources together, they are in a better position to purchase better properties while also agreeing to allocate rights amongst themselves which in turn means that they can decide on how much responsibility they are going to shoulder.
Finally, the answer to why are tenant in common properties so popular lies in the fact that tenancy in common helps increase the sales price as well as offers more marketing options and given the introduction of ‘fractional loans’ this is one more reason as to why are tenant in common properties so popular.
Monday, September 22, 2008
Reasons why Are Tenant In Common Properties So Popular - Part 2
Spread The Cost Of Ownership
Another answer as to why are tenant in common properties so popular lies in the fact that buyers looking to purchase vacation homes as well as many developers of resorts are taking recourse to using tenancy in common to spread the cost of ownership amongst several owners and this in turn means that people need not spend more than they can afford while still becoming an owner of a property – albeit not becoming the sole owner.
Yet another reason why are tenant in common properties so popular has to do with co-owning multi-unit properties by people who want to have exclusive rights to certain specific areas within the property. Thus, the reason why are tenant in common properties so popular has to do with the fact that tenant in common owners will become owner of percentage of a whole property and not just only certain units or even apartments. In addition, the deed will show that the co-owner only owns a certain percentage which gives them the right to use certain dwelling as laid out in the Tenancy in Common Agreement and which use is not dependent on a deed or map or any other type of document.
Another answer as to why are tenant in common properties so popular lies in the fact that buyers looking to purchase vacation homes as well as many developers of resorts are taking recourse to using tenancy in common to spread the cost of ownership amongst several owners and this in turn means that people need not spend more than they can afford while still becoming an owner of a property – albeit not becoming the sole owner.
Yet another reason why are tenant in common properties so popular has to do with co-owning multi-unit properties by people who want to have exclusive rights to certain specific areas within the property. Thus, the reason why are tenant in common properties so popular has to do with the fact that tenant in common owners will become owner of percentage of a whole property and not just only certain units or even apartments. In addition, the deed will show that the co-owner only owns a certain percentage which gives them the right to use certain dwelling as laid out in the Tenancy in Common Agreement and which use is not dependent on a deed or map or any other type of document.
Reasons why Are Tenant In Common Properties So Popular - Part 1
Given the immense popularity of tenant in common properties, it requires understanding just why are tenant in common properties so popular. Of course, there are several reasons for this increased popularity and one of the reasons for this is that real estate syndicators as well as investors that are putting their money into income properties are finding tenancy in common as the best vehicle with which to execute income tax-deferred exchanges, which trend owes a great deal of its popularity to IRS rulings that have recently been made regarding recognizing tenancy in common as being legitimate exchanges.
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