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Thread: Another Real Estate Law Question From a Newbie Kansas

  1. #1
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    Default Another Real Estate Law Question From a Newbie Kansas

    If I am a third owner of a piece of real property can the other 2 party's involved try and collect rent from me.

  2. #2
    Senior Member
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    Lightbulb Collecting rent from an interest holder

    Quote Originally Posted by clayman612 View Post
    If I am a third owner of a piece of real property can the other 2 party's involved try and collect rent from me.
    Yes, they can each have the option to collect a prorated share of the "fair market" rental values and/or an agreed rental rate minus expenses depending upon the type of property. Each of the other owners of an interest in the property also has the right to sell their interest to you and/or another party. Thus, you should try to reach an agreement with each of the party over the alleged property.
    I am not an attorney. My personal opinions are not legal advice.

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