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Do I have the same tax considerations with shared ownership as with purchasing the entire property exclusively?

April 26, 2017considerations entire ownership Property purchasing Shared tax

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Do I have the same tax considerations with shared ownership as with purchasing the entire property exclusively?

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Shared ownership is the same as ownership of any other real estate, wherein you enjoy potential appreciation, depreciation, interest and expense deductions. At your discretion, you may sell your share of the property, gift it, or leave it to someone in a will. Your tax advisor will be better-suited to provide specific details and advise you of the opportunities your individual tax circumstances may offer. You may also register title in your children’s names to assist in estate planning.