Robin, Yes there is and it just so happens I work with a client who specializes in this type of transaction. It does take some extra wotrk on your side, but don't let that deter you. I would be happy to help you if you would like.

Mike Beard
RE/MAX Coastal Realty
234 S Hwy 101
Depoe Bay, OR. 97341
541-921-1677

Wed May 14 2008, 20:55

Best answer: seek legal counsel for advice on how to structure the agreements, title, etc.

Tue May 6 2008, 10:48

Robin;

I have done these before. It is not that hard but will require some help through an attorney to make sure that the tenants in common agreement is drafted correctly. You will not doa time share per say as that can be treated as a security and may require a security offering.

Joint ownership is the way to go. Nobody will buy 10 years worth. The best thing to do is to create 12 shares and maybe sell 6-8 and keep some for yourself. This can work very well. You will need to value the property, set up a sharing agreement, rules of use, monthly or annual maintenance fees, and a payment agreement.

They can work. This is best treated as a "Fractional Ownership" and each ownership can be kept, willed, sold, or traded. The toughest thing is keeping the calender so everybody gets a fair allotment of time. A rolling calender is best where each owners use changes each year to a different block of weeks.

Anyway if you need help give me a ring.

Good idea in this tough market!

Tak care;

Dirk Knudsen
ReMax Hall of Fame
#1 Rated ReMax Team in Oregon
503-799-8383

Tue May 6 2008, 06:34