QUESTION
Eight relatives own a large piece of land that they are trying to sell. How should they divide legal fees such as for clearing title?
Asked on Jul 24th, 2012 on Real Estate - New Jersey
More details to this question:
The shares are not all equal -- for example, the biggest share is six times the size of the smallest. Should any legal fees be split equally, or should they be divided based on percentage of ownership?
1 ANSWER
2 Awards
The costs should "'equitably" be split on the basis of the percentage of ownership of the property. Especially since there is a such a difference in the sizes. The larger your ownership share, the more you benefitted from the services.
Answered on Jul 24th, 2012 at 6:34 PM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship