There are many advantages to forming an LLC to co-own a vacation home — the limited liability protects owners’ other assets; transferring shares of the LLC do not need a deed change; and the operating agreement of the LLCcan ensure that each owner has a full understanding of how issues and questions will be addressed.  However, some owners worry about the complexities of an LLC.  With some knowledge, an LLC can be simple, straightforward and easy to create and maintain.

It may seem awkward to ask a visitor to sign a waiver, but it is necessary to protect the owner who invited the guest. When the vacation house is co-owned, it also provides protection for the rest of the ownership group.  In fact, the ownership group would be right to require each owner to have all their guests sign a waiver.

Owning your own vacation house allows you to enjoy a favorite part of your world while investing your savings rather than giving money to someone else in the form of rent.  Any appreciation in the value of the vacation house is really a bonus. There are several factors however that can make a co-owned vacation home a great investment, especially in these changing times.