Hello, and many thanks for your thoughts and sharing your wisdom. Though we are not retired yet, we own a home, no mortgage, in a retirement community in Ft. Myers, FL. There is talk about the community taking on ownership of itself…buying out the owners of the land/community and individual residents are being asked if they want to buy a “share” if the property is taken over by the residents. May I ask as to the wisdom of share ownership, advantages, disadvantages, complications when we leave the property to family or selling the property? Where can I find information about this process and the pluses and minuses? It would cost about $55k to buy a share and our very nice mobile home on the property is valued at about that amount. What do I need t5o know before making a decision? Thanks so much.
Hello, and many thanks for your thoughts and sharing your wisdom. Though we are not retired yet, we own a home, no mortgage, in a retirement community in Ft. Myers, FL. There is talk about the community taking on ownership of itself…buying out the owners of the land/community and individual residents are being asked if they want to buy a “share” if the property is taken over by the residents. May I ask as to the wisdom of share ownership, advantages, disadvantages, complications when we leave the property to family or selling the property? Where can I find information about this process and the pluses and minuses? It would cost about $55k to buy a share and our very nice mobile home on the property is valued at about that amount. What do I need t5o know before making a decision? Thanks so much.
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