Q: How does a gentleman's agreement stand up when the owner dies suddenly?
Now his not so nice ex wife is trying to get me out. What rights do I have to stay here? Everything was left in a Living trust to his 2 sons. 20yo & 19yo, but yet she is the one trying to raise my rent
A:
I am very sorry to tell you that this kind of agreement is only worth the paper it is written on. Since it was an oral agreement, and the other party is deceased, the agreement needs to be re-made with the new owner. With a living trust there are 3 categories of people, the grantor, the person who makes the trust and funds it; the beneficiaries, the people who are the recipients of that generosity; and the trustee, the person charged with the responsibility of administering the trust until it is distributed to the beneficiaries. It sounds like the ex-wife is the administrator, and unfortunately, you are not in a position to demand that she produce any documents showing who is the trustee.
The practical aspect is that either you agree to the rent increase or seek other living arrangements.
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Tim Akpinar agrees with this answer
A: If by gentleman’s agreement you mean to say a handshake and not a signed lease, then I am afraid , you do not have a lease to stand on!!! You need to renegotiate.
Tim Akpinar agrees with this answer
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