The Wall Street Journal had an article in its July 26, 2023, edition titled, ‘Splitting a Home with Family or Friends? Get a Lawyer.” It doesn’t take much of an imagination to guess what the article was about. Of course, if you buy a vacation home with friends or inherit one with your siblings, you’re asking for challenges and potential disputes regarding the disposition of the property, the sharing of expenses such as repairs or improvements, and whether or not to rent it out.
The article reviewed some of the legal challenges and personal grievances among owners. Alas, the article was short on solutions, other than hiring a lawyer.
How disappointing that they didn’t mention a robust software company, ShareZen. While this software company, ShareZen.com, offers several health-related online solutions, it also offers a beautiful management tool for shared assets such as a vacation homes, and co-owned boats or planes. For example, the software offers a calendar so users can reserve the home, an income and expense accounting system, and a system to identify things that need to be repaired or replaced. It even manages Airbnb properties or other rental arrangements.
The Wall Street Journal really missed an opportunity to share a very useful tool.
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