Thursday, September 17, 2009

On "Co-hos" - When Non-Couples Buy Real Estate Together

Toronto writer Amy Brown-Bowers takes a look at Ontario law and the phenomenon of "non-couple" co-buying in an online article at Bankrate.com, Co-buying when you aren't a couple:

There have been co-ops, condos and co-signers -- and now, there are co-hos.

The term, coined by Time magazine, refers to communal homeowners or people who own property together but who are not couples, rather relatives, friends or acquaintances.

For some, co-ownership is an opportunity to climb onto the property ladder; for others, it's a matter of social connection. The benefits -- getting more for your money, having companionship, creating less of an environmental impact, sharing chores and resources -- are perhaps more obvious than the cautions. But there are important social, financial and legal matters to consider before proceeding.

I contributed a few thoughts to this article, and make a bit of a cameo appearance, I'll note.

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