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A shared appreciation mortgage differs from an equity-sharing agreement in that the principal of the loan is an unconditional obligation (to the extent collateralized by the property). Thus, if the property's value decreases, the borrower would still owe whatever principal is outstanding, and if the borrower sells the property for a loss, the ...
Equity sharing is another name for shared ownership or co-ownership. It takes one property , more than one owner, and blends them to maximize profit and tax deductions . Typically, the parties find a home and buy it together as co-owners, but sometimes they join to co-own a property one of them already owns.
Alaska allows spouses to create community property by entering into a community property agreement or by creating a community property trust. [2] In 2010, Tennessee adopted a law similar to Alaska's and allows residents and non-residents to opt into community property through a community property trust. [3]
Community property (United States) also called community of property (South Africa) is a marital property regime whereby property acquired during a marriage is considered to be owned by both spouses and subject to division between them in the event of divorce. Conversely, property owned by one spouse before the marriage, along with gifts and ...
Unlike a tenancy in common, where co-owners may have unequal interests in a property, joint co-owners have an equal share in the property. [5] Creditors' claims against the deceased owner's estate may, under certain circumstances, be satisfied by the portion of ownership previously owned by the deceased, but now owned by the survivor or ...
Identify the real estate (property): At least the address, but preferably the legal description must be on the contract. Identify the purchase price: The amount of the sales price or a reasonably ascertainable figure (an appraisal to be completed at a future date) must be on the contract.
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