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Articles tagged with: Tenancy in common


The Co-Ownership Agreement: What is it and How is it Useful?

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In today’s real estate market, with rising interest rates and stricter mortgage rules, it is becoming more and more difficult and unrealistic to afford a home using your own means alone. We have been noticing an increase in parents helping their children buy their first home by agreeing to co-sign on their mortgage and/or providing the bulk of the down-payment funds. There has also been a more pronounced need for adding people on title and on the mortgage in order to qualify for a mortgage or mortgage re-financing. More unique is the recent trend of real estate speed-dating events, where people can meet strangers interested in purchasing a home together by pooling their funds and credit scores; through this arrangement, each of them can finally break into the property market and start to build that tantalizing homeowner benefit: home equity.


Holding Property as Joint Tenants vs. Tenants in Common

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There are two ways to own property with more than one person: (a) joint tenancy or (b) tenancy in common. There are important distinctions between these two forms of co-ownership that can lead to very different implications for co-owners. 


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