It separates your personal assets from your business, providing a safeguard if any legal issues arise related to tenants or the property.

The seller has the two lots legally separated, but due to deed restriction imposed by the subdivision development, found that building a house on the “tennis court” lot was not allowable. 

Legally, my investment is now depending on Aloha's action.

I guarantee your life would be so much better if you removed her and replaced her with a good renter.Do yourself a favor: buy "Every Landlord's Legal Guide" by NOLO.

To do this legally, I know plans need to be drawn and submitted to the Planning Board.

Much better than a legal filing or media attention. 

@Chris SeveneyNote not An attorney or providing legal advice

I find it hard to believe that there were no signs of any friction or issues that could have been uncovered in the years leading up to the legal split.

Consider balancing liability protection with administrative costs, and consult with a CPA to align your structure with your financial and legal goals.This post does not create a CPA-Client relationship.

Do I have to legally disclose to my boss that I will have my sales agent license and have a brokerage sponsor that is someone different outside the MF development company?