Co-ownership solutions
The three most common approaches to share ownership in order to make housing more affordable are Tenants-In-Common (TIC), Limited Liability Company (LLC), and a housing cooperative. These arrangements can be entered into with or without a community land trust as a partner. For example, with CLAM as a partner, it could be the larger umbrella entity that owns the land; a TIC, LLC, or housing cooperative could then be created for individuals to share ownership in the homes and structures on the land.
Benefits of having CLAM as a partner:
Support throughout the acquisition/conversion process: CLAM would assist each step of the way.
Further affordability for residents: CLAM’s ownership of the land removes that cost from the cost of housing.
Permanent stewardship of the property: The community land trust model ensures that the housing remains affordable for future generations.
TIC, LLC, and cooperatives are not the only ways to share ownership. CLAM is interested in any creative way to own property and create lasting affordability. Contact us with your ideas or inquiries here. For more information on ways to structure shared ownership, the following resources might be useful.