There are Surprises and Threats to the future of the Family Cottage
There are Surprises and Threats to the future of the Family Cottage
Threat # 3 The inability of the heirs to collectively afford to keep the family cottage.
In literally all of my initial discussions with cottage planning clients I always ask two basic questions. First, do your children even want to continue ownership of the cottage and if so, the second question is can or will they be able to afford it?
Threat #2 to Shared Ownership of the family Cottage.
Threat # 2: Conflicts among heirs for the maintenance, operation or improvements to the family cottage.
Threat #1 to Shared Ownership of the Family Cottage.
Failure of an heir to pay his/her share of the financial obligations for the family cottage.
#1 Real Estate Law Surprise
Surprise #1: The impact of an Heir Who No Longer Wants Ownership In The Family Cottage.
#2 Real Estate Law Surprise
The Impact of an Heir's Bankruptcy or Creditor’s Foreclosure on The Heir's Interest In The Cottage.
Strategic Solutions
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