Cottage-Law.com Blog

Posts Tagged ‘Indirect Ownership’

Every time I watch an English movie or see a program set in England I can’t help but notice beautiful English country estates. As an attorney I look at the lavish estates and think about the right to partition and how our real estate laws are based on 600 year old laws. What does this have to do with your family cottage? Plenty. Our current real estate laws put your family cottage at risk. Why? Simply because real estate law does not promote keeping the family cottage in the family for multiple generations. It involves how the cottage is owned. Direct ownership and indirect ownership is what makes the difference. Cottage Succession Planning provides a solution to someone being able to invoke a Right to Partition. Read more about family cottage risks on our website at http://www.cottage-law.com/cottage-risks.html

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How We Hold Title to Real Estate Ownership

There are two ways to hold title to real estate:

• directly, or
• indirectly

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Cottage Planning Solutions

The Penning Group recommends moving your cottage from direct ownership to indirect ownership. A Limited Liability Company-based Cottage Succession Plan provides maximum protection for: Read the rest of this entry »

Every kid should roast a marshmallow by a fire next to the lake, paddle a canoe, catch a fish, dive off a raft, skip stones and and eat an ice cream cone or a freshly made donut from a local food shack which opens every summer for cottage visitors.

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