In Both Cases

• Owners make decisions together in both structures.

• If one owner doesn’t pay their mortgage, the lender can only foreclose on that owner’s share—other owners are not affected.

• Both have mutual liability if one owner does not pay their HOA dues.

• Both have HOA meetings and collect dues to cover common  expenses (like insurance)

• You can sell your ownership share at any time without needing permission from the other owners