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Landlord Tenant
Can I force our friends who live on our land rent free to sign a lease agreement?

Can I force our friends who live on our land rent free to sign a lease agreement?

Q: Can you buy a property with friends?

Yes, you can buy property with friends. This arrangement is often referred to as co-ownership. It’s crucial to establish clear terms regarding each person's investment, responsibilities, and how decisions will be made. A written agreement can help prevent disputes in the future.

Q: Can a group of people buy property together?

Absolutely, a group of people can buy property together. This is commonly done for investment purposes or shared vacation homes. All parties should agree on the terms of ownership, management, and any potential sale of the property to ensure smooth operations and avoid conflicts.

Q: Are you allowed to buy a house with a friend?

Yes, you are allowed to buy a house with a friend. This can be a great way to share costs and responsibilities. It’s advisable to create a legal agreement that outlines each person's rights and obligations to protect all parties involved.

Q: Can two friends buy an investment property together?

Yes, two friends can buy an investment property together. This arrangement can help reduce individual financial burdens and increase investment potential. It’s important to have a clear agreement that details each party's investment, management roles, and how profits or losses will be shared.

Full question:

My husband and I decided to help some friends with their mobile home by letting them place it on our property for two years to save money so they could buy a piece of property themselves. We said two years and this August will be five years. We want them to move, but they still have not saved their money and no land prospects. We have never once asked for rent. Now we would like to form a lease agreement if they will not move, can we do that? Can we have them removed?

Category: Landlord Tenant
Date: 04/07/2025
State: National

Answer:

State laws, which vary by state, govern the eviction process for a tenant-at-will. A tenant-at-will may sign a lease and become a lessee.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Is it a good idea to buy property with friends?

Buying property with friends can be beneficial, as it allows for shared financial responsibilities and investment opportunities. However, it’s important to have clear agreements in place regarding ownership shares, responsibilities, and exit strategies. Consider drafting a formal agreement to avoid misunderstandings and protect everyone's interests.