Joint charity and private ownership

BlueJuly

Hello everyone,
Before approaching our solicitors and/or the charities commission, I thought I'd ask here to get some idea and pointers from you good people.

Can a charity and a private individual jointly own a property, or any other asset half and half, and divide the income equally ?

Thanks. 

Savvy_Sue

I'm fairly sure it's possible, but it wouldn't necessarily be straightforward.

I remember a long time ago reading of an animal rescue running alongside a boarding kennels, where the rescue side had concluded that keeping the charity costs properly accounted for would be impossible.

And it would be essential to ensure that the trustees were free to make decisions in the best interests of the charity, regardless of the co-owner's wishes. Situations where there might be disagreement should be considered well in advance. I'd say the trustees should always be able to outvote the co-owner.

You mention dividing profit equally, but what about costs? Depending on the situation, an equal split might not be 'fair'. 

You are right to get legal advice. Is this for an existing charity?

BlueJuly

Thanks Savvy_Sue and yes it's for a charity. 
We'd divide the income profit and expenses in proportion to the investment percentage for both parties.