Vacation homes often create emotional — and financial — tension.
Here are practical approaches.
Option 1: Equal Ownership Shares
Each child owns an equal percentage.
Pros:
- Simple
- Clear
Cons:
- Can lead to scheduling and cost disputes
Option 2: One Child Receives the Property, Others Receive Equalized Assets
If one child wants the property:
- That child receives the home.
- Others receive equivalent financial assets.
This avoids shared ownership conflicts.
Option 3: Sell and Divide Proceeds
Sometimes the fairest solution is:
- Sell the property.
- Divide proceeds evenly.
This avoids long-term disputes.
Option 4: Use a Trust or LLC With Clear Rules
Establish:
- Scheduling rotation
- Expense contributions
- Maintenance requirements
- Buyout formulas
Clarity prevents resentment.
