If my brother and I inherited our parents' house and he lives there, can I charge him rent?
Question Details:
My real estate agent said that since he is paying the mortgage, half of the payment would be considered rent on "my half" of the house. Is this accurate and should I do anything to formalize this to protect my interests?
Are you willing to let him have exclusive use of the home? If so, you can lease to him your right to the use of the property. If not, why would he pay you rent? He is the owner of the property. Why would you pay him rent if you step foot on the property? You are the owner of the property. This assumes you own the property equally such as Tenants in Common. It is possible to divide the owership of a home so that it is not equal. A lawyer realy needs to review the deed or the last will and testament. If it is equal, why is he paying 100% of the mortgage?
