Nashville Real Estate Blog - Blog Archive: April, 2017

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April 2017

Found 1 blog entry for April 2017.

Jointly Owned Vacation Home Having a vacation home in the mountains, by the lake, along a lake, or at a prime resort location is the dream that many homeowners have. Yet paying and maintaining a second house can be tough financially. For some people, they find that they can save money by having another person go in on the vacation home purchase deal.

By jointly owning the vacation house, also called fractional homeownership, each party pays a percentage of the home's mortgage loan, property taxes, homeowners insurance, and maintenance upkeep. Oftentimes, fractional ownership agreements happen between close relatives, in-laws, or friends who a part of the co-ownership. There may also be more than one additional party involved with the purchase, as it's possible to share

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