I have contributed money to maintain and upgrade a friends home which I also live in. My friends own the home and are tenants in common. We have all agreed that when the home is sold or if circumstances change (ie one of the friends passes away), I will receive 30% of the retail value or 30% of the sale of the home. Everyone agrees that documentation is required and all are willing to sign a document. What type of documentation would be best? A promissory note does not seem adequate but I do not want to pursue changing the title of the property.
Answer by Hamoody Hassan
Posted 20 days ago
This is general advice, not based upon any particular case, fact or law: seek individual legal advice. I can only answer generally and cannot offer an opinion about your case. If you want an objective opinion or to interview with a lawyer, check out many lawyers on the internet like our firm who offer free consultations on contingency files. You can also phone the Law Society Lawyer Referral Service directly at 1-855-947-5255 or 416-947-5255 (within the GTA), Monday - Friday, between 9 am - 5 pm. They will provide 3 names of lawyers who handle cases like yours. Good Luck! Hamoody Hassan, Senior Counsel, http://www.hassanlaw.com
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