Legal Question in Investment Law in Washington
A legal IOU
My father want to give me 20 acreas, that should go to my sister. We want to write something up that states, if I sell the land, she gets the money for the 20 acreas. Can we, how would we, do this????
Asked on 5/16/07, 11:46 am
1 Answer from Attorneys
Regina Mullen
Legal Data Services, PLC
Re: A legal IOU
You need a lawyer to do this, because what you seem to want to do is divide the land by ownership interests ( possession vs. value). This is something you need to do in writing and, preferably, have it recorded as an official document.
The agreement you make now has to withstand challenge if any of you (who agree right now) either changes their mind or is not available to make sure that what you father wants will actually come to pass.
Answered on 5/16/07, 4:55 pm
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