QUESTION
can majority rule if 2 of 3 persons want to give away property rather than rent or sell it?
Asked on May 04th, 2020 on Estate Planning - Illinois
More details to this question:
2 of my aunts and their sister was granted the family house in which I live. the 2 have agreed to allow me to live in the house rent free. i just have to maintain and or improve the house on my own. the 3rd sister wants to either make me pay rent or sell the house. of course its all about money for her. the house is paid for and at this time property taxes are paid but will initially fall on me if i want to stay there. what can they do?
1 ANSWER
2 Awards
There is no majority rule in this situation. Your choice is to (1) pay rent and hope that two of your aunts will gift you back their share or (2) move out and let the house be sold. Maybe two of your aunts will buy out the third and let you live there for free, maybe not.
Answered on May 05th, 2020 at 5:14 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.