Updated over 7 years ago on . Most recent reply
obtaining a Commercial Property with a sibling
I own a Commercial Property with my sibling. We will be 50/50 partners. My sibling owns a separate business that I am not involved in. That business has rented within the building, we now own together, for the last 20 years. Including my siblings business, there are 8 business renting within the complex. I have two questions:
What should be in our Operating Agreement (partnership)
How much, if any, should my siblings rent be now that she owns 1/2 the building
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Ronald Rohde
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Ronald Rohde
#3 Commercial Real Estate Investing Contributor
Pro Member
#3 Commercial Real Estate Investing Contributor
- Attorney
- Dallas, TX
Your lawyer should be able to help with all of this. Given the size of your building, I would not expect anything less.
If you need a referral in MO, I am happy to help.