Can an investment property be a primary residence?

Can an investment property be a primary residence?

An investment property is one purchased with the intention of generating income. You can live in an investment property, but most people choose to rent them out either as someone’s primary residence or vacation rental.

How do you deal with family property disputes?

Family settlement/ Partition suit in family disputes pertaining to property. The first step towards any litigation including a partition of property suit is to carefully draft and send a legal notice to the other legal heirs of the property related to family property partition/ settlement.

Can a family member Sue over a property?

Family members sometimes sue over misunderstandings or to retain their control of the property. In 2013, for example, the Court of Appeal for British Columbia heard a case in which a couple asked their son to build a house on their investment property, and they set up a joint tenancy that they later severed following a conflict.

Can a real estate investor be involved in a lawsuit?

If you’re involved in a lawsuit related to a rental property, where the property is owned by you, an individual real estate investor, you most likely would be named in the lawsuit. This means that you would have to defend your personal assets from being taken.

How does a family investment company work and how does it work?

The parents typically fund the company by way of loan. The company (under the control of the parents) acquires assets – anything from property, cars, art, trading companies etc. which generate a return. Income is either re-invested within the company, or is used to repay the parents’ loan. Any underlying capital value grows in the children’s name.

Can a family member have a property dispute?

However, like inherited property, these joint purchase and ownership arrangements can lead to disagreement and disputes and being related by blood to a co-purchaser is no insurance against a deal going sour. Again, the assistance of a lawyer with experience in resolving those disputes involving family members over land may be required.

Previous Post Next Post