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Updated over 1 year ago on . Most recent reply

User Stats

4
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1
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Mike Daly
  • Los Angeles, CA
1
Votes |
4
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Provision in a will on a small multi-family property

Mike Daly
  • Los Angeles, CA
Posted

Here's an odd one: I'm working on a deal to acquire a small multi-family in New York state. The current owner inherited the property from his father. In the father's will, there was a provision that stated any grandchild can live in one of the units at one-quarter current market rent while they're in college. There are two grandchildren graduating high school this year. If I acquire this property, do I need to honor that provision? 

  • Mike Daly
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