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The time now is 05/17/08 - 10:45

Buying a large property with family to split


RealCool.BIZ Forum Index -> Business -> Real Estate

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rafaellle
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Joined: 02 Jan 2005
Posts: 3



PostPosted: 01/21/08 - 09:33    Post subject: Reply with quote

I heard that lots of people are buying one really large property today with plan to split it among family and/or friends, so I was thinking to do the same. With that plan, it is important to know what are my benefits and what is potential loss. Is there some kind of tax relief in this case, I mean, if you buy just one big property instead of two smaller, as you initially wanted, are there issues with the price and why do people do this at all?
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harmonie
Apprentice


Joined: 06 Oct 2005
Posts: 1



PostPosted: 02/20/08 - 03:21    Post subject: Reply with quote

If you people are one family than it seems like there’s no reason why you shouldn’t live under the same roof. For example, two brothers and their families like in my family. They are functioning quite well, but I wouldn’t be too optimistic since I know for people who had tried this and now they are still suffering consequences, in the end they will probably sell the entire property and buy separate ones, after all.
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