Legal Question in Real Estate Law in Indiana

A colleague and I are planning on buying a vacation home together. What should we take into consideration?

We've done some initial research.. A Tenants in Common and a Cohabitation document both seem necessary. I'd also like a signed document on cleanliness/keeping things in a good condition.

Should we establish a Trust or LLC or? I've read an LLC really isn't beneficial except for taxes.

What else should we look into?

Thanks!


Asked on 9/06/13, 6:38 pm

1 Answer from Attorneys
Kenneth Wilk Rubino Ruman Crosmer & Polen

This isn't a handyman's do-it-yourself project. You basically need an agreement drawn up to meet your needs, which defines duties, rights and responsibilities and the mechanical procedure for resolving problems or terminating the arrangement. Your research will give you just enough information to get your into trouble.

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Answered on 9/09/13, 2:03 pm


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