Legal Question in Real Estate Law in Massachusetts
I own a condo in common with another person. We have no mortgage. I am seriously considering moving to another state to be close to my daughter. What would be my obligations as I am part owner of the condo? The other person would continue to reside in the condo.
2 Answers from Attorneys
Your obligations remain the same even if you don't live there.
I agree that your obligations remain the same regardless of whether you live there or not. My advice would be to meet with a lawyer and have a property ownership agreement prepared. It can be very difficult later on when the parties cannot decide whether to sell, whether to rent, how to split costs and profits, how to pay for and whether to make improvements, etc.
Please feel free to contact my office if you would like to schedule a consultation and discuss your options.
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