Can a family member lease his home to another family member with the stipulation of splitting cost?

Asked by Jazsto, Los Angeles, CA Tue Aug 14, 2012

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Tim Moore’s answer
Tim Moore, Agent, Kitty Hawk, NC
Tue Aug 14, 2012
The owner of a house can lease the house to anyone they want for whatever price they both agree to. As long as you can sublease legally in the subdivision or condo and it is not a violation of the mortgage.
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Suzanne MacD…, Agent, Morristown, NJ
Tue Aug 14, 2012
A lease is a written contract and, overall, can be written however the two parties to the lease want it to be done. You will need to be sure you don't violate any laws, so you may want to have an attorney review the agreement to be sure you stay within the law and also to be sure you have covered everything that needs to be addressed. The fact that the two parties are related makes no difference whatsoever, legally, however, I would caution that, if the lease is violated, your close personal relationship could make things uncomfortable, so be very aware of that also.
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Terry McCarl…, Agent, Cape Coral, FL
Tue Aug 14, 2012
I don't really understand your question - would need more details to know how to respond.
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