Thanks, everyone. I agree joint ownership is a hassle, but we already live around the pond. In order to buy most of the pond and some land around it, the only way we can make the deal happen is for it to be joint. A neighbor is selling and this is the way he wished to split it up and the agreement that was made between myself and the other party. There will be a new survey completed for both properties. The 5% owners property will be in a cove. I wonder if I can legally put a fence across the line in the cove if I so chose?? Obviously, we dont want it to ever come to that, but if he turns into that guy inviting every tom, dick, and harry over I would like to know that I at least have a little control with majority ownership. I own a small portion of the pond now and wonder why I'd spend the money if its "really not mine"
