Legal Question in Wills and Trusts in California
my mother owns a building. i currently run a business in a separate building, thinking about moving into my mothers building. its also part of a trust worth about 800,000. when my mother passes it is given to me & my brother & two sisters, my question is, can i move into this building and what will happen to the building after my mom passes, i do not want to be forced out to move in the future.
1 Answer from Attorneys
Well it depends on the trust instrument. If your mother split it up evenly you'll have to buy them out most likely if you were to move in and she died. Albeit moving in is obviously dependent on your mother/trustee approving it. Think of it this way. You're a tenant and the owner changes. If you're part owner you're either negotiating a rent or most probable buying them out or moving to sell the building. Most families have a hard time negotiating a property's value so they let the market determine it and split the proceeds. I'd bet most siblings would want to cash out than be landlords.
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