CampsCottagesCabins
Vacation Homes Lakefront CabinsSki Chalet
Ocean
Condos
Rentals
Family InheritanceSome Common Means of Transferring Interest in Property
Limited Liability Partnership or Corporation (LLP or LLC)...

     A popular way of holding property that is quickly making its way across the country is the Limited Liability Partnership (or Corporation). One of the benefits of placing property into a properly formed LLP or LLC is that the owner or owners can be shielded from lawsuits brought against the property or lawsuits that may indirectly affect the individual's interest in the property. Some of the things to discuss with your lawyer if you were to choose this type of holding entity is the cost of forming and transferring the property to the LLP or LLC and any tax advantages or disadvantages.

Life Estate...
    T here are times when an individual or individuals choose to pass the actual ownership of the property to the intended beneficiary or beneficiaries while still living, but retain the right to live in the property, presumably until they pass away. The Life Estate is not all that common and has its quirks that warrant a thorough discussion with your lawyer.
 

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The Perfect Gift for the Seasonal Homeowner!!
TABLE OF CONTENTS... (Click Excerpt to View)
CondosIntroduction
Opening Your Place Excerpt
Family Fun
On the Water and In Your Boat
Fish Stories
Walking and Hiking
Weekend Gardening
Seasonal HomeAround the Campfire
Feeding the Gang Excerpt
Decorating Made Simple
Rental Considerations
Pets, Pests and Other Critters
Keeping It in the Family Excerpt
LodgingSafety in and Around Your Place
Bearing Gifts
Closing Time Excerpt
Water, Sewer and Heating
Resource Lists
Worksheets
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