How do you buy half a duplex? - Landlord Forum thread 262982

How do you buy half a duplex? by Stephen (WA) on August 2, 2012 @12:18

There was an earlier post w/comments that was discussing the possible purchase of half a duplex. For my edification (something I get from reading the LPA Forum), can someone explain to me how one buys & operates half a duplex? When I think duplex I think of a single building on a lot. That building has 2 units in it (for me they are side by side). There is common land for the building tenants.

So who owns the land? Are there separate tax parcels? Is this like a condo w/joint interest in the building? I'm just having trouble conceiving of this so I probably would never buy one, but now I'm curious.

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Re: How do you buy half a duplex? by Jake on August 2, 2012 @13:01	[ Reply ]

You are correct that it is like a condo sale. The property will have some shared property like parking and yard space. There may also be shared drainage from the plumbing. As far as living conditions, it would be like renting only you could not move when your neighbor became insufferable. Financing and insurance will also prove to be more problematic.

Re: How do you buy half a duplex? by OK-LL on August 2, 2012 @16:56	[ Reply ]

My experience is that to sell each half of a duplex separately, each half must meet the area zoning and code requirement, including road frontage, utility connections, etc. Typically each half sits on it's own lot, with no lot line and obviously built to the lot line on the joined side. I wouldn't get involved in this type of ownership because I see too many of these in my area where it's obvious the owners aren't cooperating with one another -- for instance the duplex has different exterior paint for each unit, or one keeps his up and the other doesn't. There's no way to look nice when you're attached to a slum.

Re: How do you buy half a duplex?

Re: How do you buy half a duplex? by Anonymous on August 2, 2012 @21:11	[ Reply ]

Another way some people do in our area is to do a "co-op." This is due to zoning that precludes subdividing. They create a corporation and each have rights to their unit while sharing common fees. You'd need a RE lawyer to do this.

Re: How do you buy half a duplex? by Stephen (WA) on August 2, 2012 @21:26	[ Reply ]

Thank you all. Zero lot line, zoning, joint responsibilities, etc. I was thinking that I'd never want to get involved in something like this AND since your input I'm becoming more adamant about not doing anything like this. Some years ago we looked at a duplex that was on a common parking lot w/a shared driveway for another duplex. We thought that looked like a potential problem w/coordination & cooperation between the two owners. The shared duplex sounds like a similar problem only worse. Again, thank you.

Re: How do you buy half a duplex?