The Selfbuild Discussion Board: legal implications on cooperative self building

The Selfbuild Discussion Board
[ Reply To | The Selfbuild Discussion Board ]

legal implications on cooperative self building

Posted by Suzanne on 9/6/2004, 7:14 pm

Hi,
we are looking to set up a cooperative of maybe 5 or 6 couples to buy land in North Devon and enable us all to get on the property ladder. However we are not sure what the legal implications would be if for example we each raised mortages of around £100,000. bought land for 6/7 houses, with the idea to sell the first built to raise further finances for the rest of us to be able to complete our own. What would happen if one or more people found the going tough and wanted out ? I am sure there are many other scary scenarios so any thoughts on what we should consider to protect the project and any mortage linked to it?
Many thanks
Suzanne.

Message Thread:

legal implications on cooperative self building - Suzanne 9/6/2004, 7:14 pm
« Back to thread

Reply To

Your Name:

Your Email:

Subject:

Message:

--Previous Message-- : Hi, : we are looking to set up a cooperative of maybe 5 or 6 couples : to buy land in North Devon and enable us all to get on the : property ladder. However we are not sure what the legal : implications would be if for example we each raised mortages of : around £100,000. bought land for 6/7 houses, with the idea to : sell the first built to raise further finances for the rest of : us to be able to complete our own. What would happen if one or : more people found the going tough and wanted out ? I am sure : there are many other scary scenarios so any thoughts on what we : should consider to protect the project and any mortage linked to : it? : Many thanks : Suzanne. :

Optional Image URL:

Optional Link Title:
Optional Link URL:

Please enter the numbers above. This helps stop spam.

By posting, you confirm that you have read and agreed to be bound by the board's usage terms.

Hosted for FREE by Boardhost.
Create your own free message board!