Group Ownership

Buying a woodland is a considerable investment both in financial terms and in time.  Many people choose to purchase in partnership with friends or relatives to split the cost and responsibilities.  This can be an excellent way of realising your dream, but before committing yourself it is wise to discuss and agree a number of fundamental points about how you will manage the woodland-

• Make sure your objectives are compatible - if you wish to use the woodland for quiet enjoyment and your friends main interest is mountain biking or even moto-cross you are unlikely to coexist happily.
• Make sure all the costs are shared equally.
• Practical work - if the woodland is to be managed by contractors ensure that the costs will be shared equally, and that any work that the co-owners carry out is shared and that any produce such as firewood is also shared.  You might agree that each co-owner has to contribute a certain number of days labour each year.
• Any income from the woodland should also be shared.  You could consider opening a joint account for woodland income and expenditure.
• Agree what would happen in the event of one co-owner wishing to sell their 'share'.  One way to handle this is to set things up so each of the owners own a share of the woodland and if one wanted to sell they could.  It is wise to reach agreement at the outset that the other co-owners have to approve any new co-owner.  Consult your solicitor at the time of purchase.
• Usage of the woodland.  If one co-owner will be using the woodland regularly to produce an income (running green wood crafts courses, for example) it might be agreed that they would pay a larger share of the costs.
• Jointly agree and implement a management plan.