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land sharing | (Read 906 times) |
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earthgirl
Posts: 1
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July 05, 2007, 04:44:32 PM |
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Had anybody had experience with creative ways of sharing ownership of land?
I want to buy a small wooded parcel on which to build a strawbale cottage, plant a garden, and live peacefully and sustainably. I like the idea of an intentional community, but I also want to own my land and maintain a degree of independence. As I've been looking at lovely 5-acre parcels, the thought occurred that, with good, like-minded neighbors, I would really only need an acre or two to achieve my dream. If I could share a piece of land, it would cut costs dramatically (especially as I'm looking just outside of Seattle, which has gotten extremely expensive). Since the land I'm looking at is zoned at 5 acres and can't legally be split and sold, I'm wondering what my options are.
Any ideas?
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paul wheaton
Administrator
Posts: 1343
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July 08, 2007, 05:15:00 AM |
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There are folks that have done it.
You probably want to take a look at "Creating a Life Together" by Diana Leafe Christian.
It seems the most popular way is to create a LLC. The corportation owns the land and the people own the corporation. Do not go with a 501c3.
This sort of thing can work out, but most don't. In Diana's book she emphasizes that 90% don't work out. Of the 10% that do work out, there are varying degrees of smooth (or not so much).
It is worth researching deeply.
Among the topics to look into: what happens if personality conflicts arise? What might the zoning restrictions be? Can you build two homes on one property?
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pixelphoto
Posts: 44
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July 08, 2007, 07:36:50 PM |
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if you want a 5 acre lot i would just find some like minded folks who would go in halves with you on the land and then legally divide the land once purchased. Since you found the land you get to pick which half you want its only fair.
Owning land with multiple owners can be tough its easier if they own theirs and you own yours.
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