I am the Trustee of my fiancee Trust and have a daughter together who is 13 years old.
The eldest daughter,33 year old ,from previous relations,own 35% of the house where we are leaving for 17 years.Myself and our minor daughter own 65% of the house.
Trust not closed yet due to delay of paper work regarding his debts.The eldest one she asking for rent for her part.I took care of my fiancee for 9 months of his disease until he passed away at the hospital.
Is she really entitled to any rent????There is a law article about this?
1 Answer from Attorneys
I am sorry that you have faced this. It is hard to follow the exact circumstances and an attorney would want to look at the trust and title history, but in theory, unless there were clear restrictions on the interest in the property, any part owner should expect to have the benefit of their interest. What if the tables were turned and you were on the outside looking in with a 65% interest and nothing coming from the property?
So, for example, if fair rental value is $1500.00, but $500.00 can be attributed to taxes, insurance, maintenance, and other common costs, leaving $1000.00, then in theory she should be getting $350.00. That's just throwing out an example without a full understanding of the background, but hopefully it helps you picture it.
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