Q: I am a 2/5 owner and a property owned by four siblings, do I have legal power over them on decisions made on the propert
I would like to move into the property and pay them rent minus my share is this possible legally
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A: All tenants in common have rights of possession and title. Your larger undivided interest ownership does not give you more rights. You do not have to rent from anyone, but someone has to pay taxes. A Partition Action might occur.
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A: It's not a question of legality - it's a business decision for the four of you to make. If the others agree, it can be done.
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A:
As a 2/5 owner of a property owned by four siblings, you have a legal share in the property but you do not have complete control over the property. Any decisions regarding the property must be made jointly with the other owners, and your voting power will be based on your ownership share (in this case, 2/5).
Regarding your desire to move into the property and pay rent to the other owners, minus your share, this is a matter that would need to be discussed and agreed upon by all the owners. If the other owners agree to this arrangement, then it could be legally possible for you to move in and pay rent to them. However, if they do not agree, you may need to explore other options or potentially pursue legal action to resolve the matter.
It is important to note that property ownership and rental agreements can be complex legal matters, and it may be advisable to seek the guidance of a legal professional to ensure that any agreements are legally binding and protect your interests as a co-owner.
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