Just a post re Partnerships..
A friend at work knowing my interest in property queried partnerships..
How would you structure such a thing, assuming 2-5 people ??
How much paperwork wouyld be invovled, and the best course of action ? If that path was followed ??
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Redwing, I am looking at the same thing at the moment with 3 others. We have decided (actually, I decided [
]) that we will set it up as a unit trust. This way, if one wants to bail, all that has to be done is buy out the units in the trust, rather than change titles, bank loans etc. etc.Cheers
MelHi.
After personal experience, and first-hand knowledge of others, I would avoid partnerships. There are advantages, but a big disadvantage is ‘joint & several liability’. Look at other structures first, as Mel has done!
From the 19th C: “the only ship that’s certain to sink is a partnership”.
TerryTerence McMahon
HomeWin
Finance
]) that we will set it up as a unit trust. This way, if one wants to bail, all that has to be done is buy out the units in the trust, rather than change titles, bank loans etc. etc.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
