Legal Question in Real Estate Law in Virginia
Can one owner lease a unit without the owners knowlege or approval?
I co-own an investment property with a relative and recently discovered they leased the unit without my knowledge, signature or consent-after we had agreed that the unit would be sold and not leased out again. Is the tenants (1yr) contract still valid without my signature or can I contest the validity of the tenants contract?
1 Answer from Attorneys
Re: Can one owner lease a unit without the owners knowlege or approval?
You most likely hold title with your co-owner relative as a tenant-in-common, meaning that each of you owns a one half, undivided interest in the property, and either of you as such an owner could extend a lease in the property to the tenant of his choice without the permission of the other which, apparently, is what your relative co-owner has done.