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    chasreen's Avatar
    chasreen Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 25, 2011, 02:36 PM
    Do I need to set up a business to sell 1/2 interest in a second home?
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #2

    Jan 25, 2011, 04:57 PM

    No but we would benefit from more details. I amguessing you own a primary residence and a second home or weeekend get awy, right so far? You want to sell have interest in your get away but keep the primary as is, right? The primary has no influence on the secondary unless the secondary get awy is collateral for the primary mortgage.
    Ilike's Avatar
    Ilike Posts: 34, Reputation: 3
    Junior Member
    		  
    #3

    Jan 31, 2011, 12:39 AM
    You do not usually need to set up a business to sell a 1/2 interest in a second home but you would likely be wise to do so. Are you selling the full 1/2 interest to one party or even dividing it further like a time share? To answer the question better I need additional information. Just realize that selling a 1/2 interest means that you are relinquishing a lot of your property rights. Wouldn't it be better to lease the 2nd home out when not in use as opposed to selling a half interest?

    Good luck!
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