Posted by John Corey on April 23, 2006 at 24:10:22:
For legal advice you need to speak with a lawyer. Or go to the legal forum.
Can someone who is not an owner work on the property with out a license? States vary on this. What are the rules for OH?
Do not do this as a favor as that muddies the waters. A partnership where both put something in (time, skills, what ever) is fine.
Barney Zick was fond of using options. You could buy the place and get the financing. You can hire the other guy’s crew and you can offer the guy an option. He needs to pay something as consideration. It will cloud the title in that you can not do much without his approval.
It bothers me that there is not a clear reason to partner. Then again a deal where you do not need a partner is a great deal to test a partner out to see if it will work. Then later when something more difficult comes up you know what works and what does not.
Decide why you want to do this together and then come up with a simple and clean way to meet that goal.