Overview
No matter whether youāre planning to pass on a cottage to your children, or youāve inherited a cabin with your siblings, itās never too early to take steps to preserve a beloved family property for generations to come. Shared ownership of vacation propertyāespecially when the co-owners are family membersācan be fraught with problems. The idyllic dream of a cottage getaway can be shattered when co-ownersā emotions, financial concerns, and opinions on how the property should be used come into play.
Fortunately, a solid plan that dictates how the property will be owned and managed can prevent squabbles over the family cottage. Saving the Family Cottage lays out a roadmap for creating and implementing this plan. It also explains the possible pitfalls of co-owing a family vacation property, and provides time-tested guidance on how to:
- keep the peace among heirs
- prevent a family member from forcing a sale of the property
- keep your vacation home out of the hands of in-laws and creditors, and
- smoothly transition ownership of the property from one generation to the next.
The sixth edition includes an expanded discussion of legal issues that might arise from renting out a family cottage or cabin on a short-term basis. Itās also updated to reflect current tax and legal entity laws.
This book title, Saving the Family Cottage (Creative Ways to Preserve Your Cottage, Cabin, Camp, or Vacation Home for Future Generations) - 9781413328264, ISBN: 9781413328264, by Stuart j. Hollander, Rose Hollander , O'Connell Ann, published by NOLO (February 23, 2021) is available in paperback. Our minimum order quantity is 25 copies. All standard bulk book orders ship FREE in the continental USA and delivered in 4-10 business days.
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