Each part would have 16 of the 24 words. With any two of them, you could rebuild the full seed. Then you'd store the 3 parts in 3 different locations.
Is there anything seriously wrong with this? It seems like a better idea - simple, easy to understand - than doing an actual 2 of 3 multi-sig.
Here's a few sources that discuss it. I'd love to hear some more opinions.
https://yewtu.be/watch?v=p5nSibpfHYE
Andreas Antonopoulos is not a fan of this idea. But lots of comments say he's wrong.
https://medium.com/@HodlSafe/seed-splitting-standards-82624f2d4dc
He posts a detailed critique of Andreas Antonopoulos' video above
https://bitcoin.stackexchange.com/questions/107380/why-is-it-bad-to-split-up-a-wallet-seed-redundantly
Commenters seem open to the idea