on March 29, 2011
This book provides an excellent overview of the issues presented by an asset shared by multiple owners whose values may include financial gain (or need), sentimentality, and/or environmentalism in varying portions, and in all or most cases, a preoccupation with enjoyment of a family farm or cottage without full consideration of the other owner(s). I don't find myself agreeing with all of the author's suggestions, but he raises the issues quite thoroughly. This is a very useful book for the older generation deciding how to dispose of family real estate, and the younger generation in how to arrive at dividing responsibilities when the property passes to them. The considerations raised are not complete, though, and so should be used as a starting point for instructing one's lawyer (U.S.) or notary (Canada) in preparing the necessary documentation. Prepare for an illuminating group process!