Articles & Resources
Specific Articles Organized By Co-Ownership Type
We offer separate resource pages on various types of co-ownership, each with overviews, FAQs, detailed explorations of specific issues, and relevant laws, newspaper articles, books, and other resources.
Owning a vacation home in fractional ownership with a small group of family, friends or even strangers, or participating on a more organized private residence club, destination club, or other fractional ownership arrangement, is the fastest growing trend in second home ownership. These arrangements can involve a single home, or a large resort, and can be organized by a small group of family or friends, an individual buyer or seller, a Realtor, or a developer. This link leads to articles and resources on fractional ownership and development of vacation or resort property.
Learn about tenancy in common (TIC) and explore the many ways tenants in common ownership is used. Our office pioneered use of tenant in common ownership with a TIC Agreement giving each owner an exclusive right to occupy a particular space (such as an apartment, house or office) within a residential or commercial property. Assigning owner-occupancy rights in a TIC agreement creates an arrangement that feels and acts like a subdivision when legal subdivision is impossible, unaffordable, or too time-consuming. This link leads to articles and resources on tenancy in common in general, and TIC arrangements used as an alternative to legal subdivision.
This link leads to articles and resources on subdivision of real estate and conversion to condominiums. Our office has completed more than 3600 condominium conversions.
Equity sharing is a solution for homebuyers who cannot afford a down payment or cannot qualify for a loan. Equity sharing can also be a way for relatives, friends, employers, and religious or educational institutions to help someone buy a home while obtaining investment return and tax benefits. In equity sharing, two parties, an “occupier” and an “investor”, pool resources for the down payment on a home. For an agreed number of years, the occupier lives in the home. Then, the occupier buys out the investor or the property is sold. Each owner recovers their contributions, and any appreciation is shared. This link leads to articles and resources on equity sharing as well as basic information of interest to first-time home buyers.
There are an infinite number of reasons and ways shared property is held, many falling outside established co-ownership categories. For example, family members inherit property from parents or other relatives, groups of friends or family buy property together, and people with shared beliefs, interests, goals or hobbies decide to pool resources. This link leads to educational articles and resources for anyone thinking of becoming involved, or already involved, or in any type of family or shared ownership.
Homeowners associations should periodically replace older CC&Rs and bylaws so they adhere to current law and “best practices”. Updating HOA governing documents can make it easier to sell and refinance, and minimize the likelihood of owner disputes and operational problems. Condominium and planned development owners also amend their covenants, conditions and restrictions (CC&Rs), bylaws, rules, map, or other governing documents to recognize construction of garages, decks or room additions, or to reflect changes adopted by the owners.
This link leads to articles and resources designed for members of condominium, planned development and TIC homeowners associations, as well as the many Realtors, managers, accountants and other professionals who deal with these associations. They provide the answers to commonly asked questions about forming and operating an HOA, and the text of many laws governing these associations. To learn more about the homeowners association startup, ongoing counsel, and document interpretation legal services offered by Sirkin & Associates, visit Our Services.
The articles, links and resources on this page relate specifically to limited liability companies (LLCs), a form of business entity recognized in all 50 U.S. states and may other jurisdictions. LLCs can be used for all types of businesses, including real estate investments. They can also be used for real estate that will be partially of fully occupied, used or shared by the LLC owners, but this application is rarer and raises complex organizational and documentation issues.
This link leads to articles and resources on real estate investments, including tax-deferred exchange (1031) TICs, limited and general partnerships, limited liability companies, and offering and raising money for real estate investments (including crowdfunding and private offerings).
This link leads to articles related to resolving disputes among co-owners of real estate, including homeowners associations (HOAs), tenancy in common (TICs), family partnerships, investor groups, and other shared ownership arrangements relating to real estate. To learn more about the mediation and dispute resolution services offered by SirkinLaw, visit Our Services.
We also provide sophisitcated but low-priced sample agreements and document templates for many co-ownership arrangements including real estate investment agreements, co-ownership agreements for unmarried couples and domestic partners, equity sharing agreements, and LLC operating agreements and other documents. These templates are comprehensive, yet written in plain English, not too long, and easy to customize.