Office: 165 Pretoria Avenue, Ottawa ON. K1S 1X1
Phone: 613.238.2801
Fax: 613.238.4583
email: roberthof@royallepage.ca
Office: 165 Pretoria Avenue, Ottawa ON. K1S 1X1
Phone: 613.238.2801
Fax: 613.238.4583
email: roberthof@royallepage.ca
There are many situations when family members take title together, whether for estate planning purposes or in most cases, when one member cannot qualify for financing alone. Others then go on title but have an agreement that they will not contribute to the upkeep of the property. If this relationship is not reduced to writing, then problems will occur later if disputes arise.
If it is intended that one owner will be holding title to the property in trust for someone else, get everything in writing at the time that the property is purchased, to avoid any problems later.
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Thanks, Mark Weisleder, for more excellent information.