Minneapolis Minnesota Equity Sharing Agreement
Category:
State:
Multi-State
City:
Minneapolis
Control #:
US-0955BG
Format:
Word;
Rich Text
Instant download
This website is not affiliated with any governmental entity
Public form
Description
Equity sharing is an arrangement typically used when a homebuyer cannot afford the full down payment of the home he/she wishes to purchase, but has enough income to pay the full monthly payments. An equity share can also be used where the homebuyer can afford the home but cannot qualify for a mortgage.
Equity sharing is another name for shared ownership or co-ownership. It takes one property, more than one owner, and blends them to maximize profit and tax deductions. Typically, the parties find a home and buy it together as co-owners, but sometimes they join to co-own a property one of them already owns. At the end of an agreed term, they buy one another out or sell the property and split the equity.
