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Life Estate divided into 3rds can we charge rent and how?

My dh fil and husband aunt have a life estate from his grandmother who passed away in June. We've had the house listed though a realestate company since november with them only showing the house to 4 people who obviously didn't want it because my fil has the price so darn high. He is currently living in the house and paying no rent to my husband or his aunt, but is paying the bills in the house. He refuses to take the house down in price to the point where someone else would buy it, and the other 2/3 agree on the lowered price. So since we can't sell we want to charge him rent, are we able to charge him rent on the other 2/3 of the house or evict him and how do we go about it? we live in the state of ohio.

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Bluesdawg02

Asked by Bluesdawg02 at 5:08 PM on Mar. 26, 2010 in Money & Work

Level 9 (302 Credits)
Answers (5)
  • If they own 2/3rd's of the house then they should be able to charge him rent or force him to only live in a third of the house.

    If two out of the three owners want to lower the price then they should be able to.
    Make them vote on it.

    Or your DH and his aunt should each find renters to move into the house with your FIL. He might not like it but it's not just HIS house.
    If he continues to be a pain in the ass take him to court. He can either go along with the other two or he can buy their shares.
    Laila-May

    Answer by Laila-May at 5:11 PM on Mar. 26, 2010

  • I think I would consult with an attorney in your state before moving forward with any plan. This is the type situation that can go horribly wrong and permanently damage family relationships.
    Anonymous

    Answer by Anonymous at 5:13 PM on Mar. 26, 2010

  • Another option is to ask the FIL to buy the 2/3 owned by your husband and his aunt - I bet he'd be looking for a lower price then!

    I think if I were your husband and aunt I would tell him if he wants to live there he will either have to pay 2/3 rental value or buy their interests.
    Anonymous

    Answer by Anonymous at 5:16 PM on Mar. 26, 2010

  • You need to consult with an attorney. My step-mother had life interest in Dad's house after he passed away, although the house was owned by me and my sister. We could not charge rent, nor did we want to. I not sure about the sale of the house nor do I know the laws in your state; consulting an attorney would be the preferred way to answer your questions and lead to a solution of this situation.
    Anonymous

    Answer by Anonymous at 8:29 PM on Mar. 26, 2010

  • My fil allowed his sister to buy him out for 1/2 the appraisal value of the house.
    whiteroses82

    Answer by whiteroses82 at 8:45 PM on Mar. 26, 2010

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