Family Cabin Agreements
When you own a cabin, hunting land or vacation property with a person other than your spouse, you need to protect your property rights and those of your heirs and put a plan in place to ensure peaceful ownership of the property and smooth transition upon a sale or transfer to the next generation. A family cabin agreement should be drafted to do just that - the advice of an attorney experienced in these matters can be invaluable. Cummins Law Office helps families throughout the Twin Cities metro area and the entire St. Croix River Valley explore contractual and estate planning options such as a family cabin agreement or family trust to satisfy your needs.
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The co-ownership of property with someone besides your spouse, even if the person is a family member, presents a number of possible legal issues and challenges. It is important to address these issues in writing, drafting a document that addresses possible pitfalls and is comprehensive enough to hopefully prevent future litigation. That is why a family cabin agreement needs to address not only rights of survivorship but also plan for the possibility that the co-owner may want to sell their interest in the property.
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Families all over Minnesota and Wisconsin have cabins, vacation homes, hunting land and other co-owned properties. Whether you share the property with family or friends, you will want to ensure that your children and heirs will be able to enjoy it for years to come. The attorneys of Cummins Law Office can explore options to preserve your property rights and those of your heirs. Contact us for a consultation with a lawyer to learn more.
