SHARED EQUITY FINANCE AGREEMENTS
Shared Equity Finance Agreements is when two parties share the purchase of a primary residence. In the agreement the stronger party, in the case of finance, is designated as the investing owner. The remaining party is designated as the occupying owner. Shared Equity Finance Agreements are typically charitable. It usually states that the latter party pay the proportional share of the mortgage payment along with expenses like property taxes and insurance.
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Original Cost
It simply refers to the total cost associated in buying an asset.
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