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Show 6C The Salt Lake Tribune, Tuesday, January H, 1986 Staying Ahead : Sharing Property Can Be a Blessing or Curse NEW YORK Joint ownership used to be a question only for married couples. But nowadays, everyones getting into the act. Live-togeth- Jane Bryant Quinn couples, neighbors, parents and children are all buying various types of property together, in order to divide the cost So here's the question. Is sharing property a good idea? For friends: You may decide to buy a boat or vacation house jointly with a friend because neither of you can afford it alone. You arrange to use the boat or the house on, say, alternate weekends, and split the excan penses. These arrangements work, if both partners will them to. But they teeter on the edge of risk. What if you want to sell the boat and your partner doesn't? What if your partner doesnt pay his share of the expenses? Who pays, if he accidentally damages the property but thinks that your own careless upkeep contributed to the accident? What if his creditors attach the property? What if your friendship fades? should draw up a detailed contract covering all the what ifs." And take out policies on each other, so each of you can afford to buy the others share if he dies. Otherwise, that share will pass to a stranger probably causing you a lot of heartburn. that neither of you will sell his or her share without the other's permission. In general, the risks of property sharing overwhelm the emotional rewards. If the relationship sours, it may be hard to get your share of the property back. Your partner could clean out a jointly held bank account. If he (or she) leaves, he could sell his half of a jointly held piece of real estate to a stranger (or threaten to do so, in order to pressure you to agree to selling For unmarried couples: In shortterm relationships, joint ownership isnt even worth talking about. The pairings, impulse arises in long-terwhere the argument for equitable economic arrangements can be the same as for married couples. If you want to own a house, a dual investment is probably needed in order to make the down payment. You can own as tenants in common, which allows each of you to sell, or to bequeath, his or her share of the property to anyone at all. Or you can own as joint tenants with right of survivorship. The latter lets you sell your share to another party during your lifetime. But if you die, it automatically passes to your You might write a contract providing First of Two Commercial Security To Close Branch On North Temple Commercial Security Bank announced it will close the 285 W. North Temple office of the former Citizens Bank of Ogden on Friday. Commercial Security acquired the financially impaired Citizens Oct. 18 after it had been closed by the Department of Financial Institutions. The Ogden-base- d Citizens had branches in Layton, Kamas and Roy as well as Salt Lake City. Commercial Security chairman Richard K. Hemingway said demographic analysis of the North Temple office indicated only a small number of customers lived nearby. The majority live elsewhere and can be served by other Salt Lake branches of Commercial Security. No other branches of the former Citizens will be closed, he said. After Friday, the safe deposit customers of the 185 W. North Temple branch will have their safe deposit boxes relocated to the vault at the CSB tower offices at 50 S. Main. Customers have been notified of the closure and have been assisted in , transferring their accounts to other CSB branches at no costs, he said. yer with Pryor, Cashman, Sherman & No matter Flynn in New York. which way you jump, its not simple. For oarents and children: An elderly pan..t might find it convenient to put an adult child's name on his bank or brokerage account, if the the house). If he dies without a will, and you have no right of survivorship, his half of a jointly owned house will pass to his relatives, who might force you out. The property is subject to the claims of either partner's creditors. If the reason for joint ownership is to ensure that your partner gets the property at your death, do it instead by writing a proper will. However, if separate Ownership would be unfair for example, because the woman contributes to the household but has no equity interest in the house joint ownership is worth the risk. We are fumbling our way to new relationships, says Edlaw- g ward Fogel, an 1986 Woshlnsrton Post Writers Group Auto Accident INSULATION INJURIES WALL ProTel Fee on SPECIALISTS Liquid foam injected into any kind of wall 50 basis CLARK R. 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