Legal Question in Real Estate Law in California
If two people own property, one holds 75% and the other holds 25%. Can the one that hold 75% rent the property without the other ones permission.
1 Answer from Attorneys
Yes. Both co-owners have the right to occupy the entire property, and either co-owner can transfer his or her right to a third-party renter. Absent an agreement between the two co-owners, either of them can lease or rent his or her right of occupancy to a third party, and it doesn't matter whether their ownership is 50-50, 75-25, or 99-1. However, the co-owner that did not consent to the rental still retains his or her right of occupancy in the property, but cannot enforce that right against the will of the renter. Sound complicated? It is, a bit. Also, each co-owner is entitled to a share of the rent, but the lessor co-owner is not entitled to management fees.