hodor@hplabsb.UUCP (02/20/85)
I recently saw an introduction to equity sharing personal residences by Paul Simmon. Paul Simmon has developed a course. Has anyone on the network taken his course? I have heard two different opinions on what can happen in an equity sharing situation. With two people involved and each having 50% of the equity of the property. 1. One person is the investor and puts up the down payment for a 50% equity in the property. The other person pays the monthly payments plus some nominal fee ($50/month) to the investor. This is what I heard from the Paul Simmon introduction. 2. The same as the above except the person paying the monthly payments and living in the house must pay half the fair market rent for the other half of the equity (this would be >$500 for a $150,000 house). This is what I have heard from a realtor. Does anyone on the network know if either of these options have a problem with the tax law or some other area?