Co-owning property with family or friends
We have previously addressed this topic in our article “5 Creative Ways to Get into Your First Home” which was published on our blog last year. Since then, we have noticed that this topic has been in the media and it appears that first home buyers (“FHBs”) raise concerns about this option being too restrictive or complicated. It also appears from social media posts that there is a major lack of understanding when it comes to the current Bright-line rules. Generally, there is also a lack of knowledge in relation to how a property sharing agreement (“PSA”) can make a group purchase less complicated.