Buying a vacation home with family or friends might seem great on paper. Often, those who do so regret the decision. Home buyers who split the purchase of a vacation spot with family or friends say they are doing so to cope with high mortgage rates, steep home prices or rising home-repair costs. Others are inheriting vacation property as more of their baby-boomer parents die. In both cases, homeowners say disputes about house guests, repairs and maintenance threaten to spoil the arrangement. Conflicts over the homes can ruin friendships and split up families, while co-owners sometimes end up in legal battles.
Wall Street Journal’s Veronica Dagher interviews Avi Z. Kestenbaum, Co-Chair of Meltzer Lippe’s Trusts & Estates practice group to discuss how parents who plan to leave the home to their heirs can help prevent future fights.
Read more: The Wall Street Journal