Compare Mortgage Quotes

Guest

Husband and I own townhouse with my brother 50% us and 50% him. We have verbally agreed since 2008 that husband and I would manage property as rental, pay expenses out of bank account opened just for this on both parties names and deposit rental income. We have been sole managers (although we have given him regular reports on expenses and revenues). My brother, who has not contributed to any of the management duties has consistently refused for us to repay ourselves (out of that bank account) for any office supplies, bookkeeping and management service, gas, time, and effort we put into this property for the past 3 years, has now decided to dissolve our tenancy in common. Can we demand to be compensated for our services and expenses? Do we have any legal recourse?

jameshogg · Posted: Wed Nov 30, 2011 7:05 pm Post subject:

Hi Guest,

You can demand to be compensated for the services that you have provided. However, there is no written document for such an agreement, so I doubt whether or not you will get your compensation. Nevertheless, you should contact your lender and take his opinion in this matter. He will better guide you in this regard.

Thanks

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Compare Mortgage Quotes

Should the manager in a TIC be compensated for his services

Helpful References

Our Community

Community Rewards

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1