When you own a cabin, hunting land or vacation property with a person other than your spouse, you need to protect your property rights as well as those of your heirs. It is important to put a plan in place to ensure peaceful ownership of the property and smooth transition upon a sale or transfer to the next generation.
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, so that decisions are addressed and recorded with the expectation of avoiding future litigation. That is why a Family Cabin Agreement needs to address a variety of issues that may not seem likely to come to pass at the time.
A Family Cabin Agreement, LLC or Trust can be used to accomplish that important purpose. The advice and assistance of an attorney experienced in these matters can be invaluable. At Cummins Law Office, P.A., our attorneys have knowledge and experience with this type of planning; Meghan S. Johnson was recently quoted on this topic in an article that appeared in The Wall Street Journal and the Minneapolis Star Tribune. We help families explore contractual and estate planning options available for Family Cabin Planning and assist clients in completing a plan that satisfies their needs.
A family cabin agreement must 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. It is important to address these issues in advance to avoid conflict, and the potential for having a forced sale. Our attorneys will draft a document that addresses possible pitfalls and is comprehensive enough to minimize the possibility of future litigation.
We take the time to learn about our clients and then offer personalized representation tailored to meet their specific needs. There are many reasons families need a family cabins agreement. Every family is different and should have a carefully considered and appropriate plan designed for their particular needs and goals.