legal structures for cohousing

Hi Cere & All,

I've worked with condos, co-ops, LLCs, Tenants-in-Common and group leases. You probably know already that these forms of ownership allow varying degrees of control over use of the property. Your ability to transfer legal ownership or the right to reside at the property is also different depending on which type of ownership you choose. Your taxes and property insurance are affected, financing is different, and you will encounter varying levels of government regulation with each.

Tenants-in-Common is the easiest form of co-ownership to initiate, but it can involve the greatest amount of liability and risk for you and your co-owners. I?ve seen Tenants-in-Common go awry very fast and ruin long-standing friendships. (Imagine a falling out among roommates, but with a very large amount of money at stake.) On the other hand, condominiums are frequently too restrictive and cumbersome for small groups. A co-op or LLC might be the best way to go if you plan to share your home with a small group.

I?d be happy to discuss co-housing in greater detail. Perhaps one of our legal colleagues could also share their experience. If more people are interested, let?s get together and talk.

Christopher

Cere,

You might touch base with William Wright. He's a Seattle-based attorney working in the realms of land-use and non-traditional life-styles. Yep, Biznik, too.