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tenancy in common

  • 23-01-2011 05:11PM
    #1
    Registered Users, Registered Users 2 Posts: 104 ✭✭


    Does anyone have any experience in ownership through tenancy-in-common?

    Is it a good or bad idea? It is practical from a farming perspective?

    Say a dairy farmer wishes to transfer his/her farm to two sons/daughters, allocating each distinct parcels of land. When it comes to the farm yard, sheds and milking parlour, dividing these up would not be practicable. Would a tenancy in common be suitable, just for the farm yard?

    I would assume it could obviously have an impact say where a party wished to obtain a loan and use the co-owned asset as security etc.... It possibly has tax implications also.

    Thanks


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