Reasonable ideas to grandfather centain owners from new rental restrictions

Started by DonellJ • 2 replies • 1426 views

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DonellJ
Posts: 15

Posted:

Small community. At the present time no rental restrictions. Board would like to put in an amendment that would make it mandatory for a new owner to leave in the house for one year, before you could rent. We have 4 owners over 70 years old that have lived here for many years and have there home in a will to to there children. Need a fair way to resolve this.

TimB4 (Tennessee)
Posts: 21,059

Posted:

Any home purchased after mm/dd/yyyy may not be rented for the first year of ownership.

This allows a loophole for those homes that may be inherited.

NpS (Pennsylvania)
Posts: 4,216

Posted:

Quote:

Posted By TimB4 on 06/02/2016 6:30 AM
Any home purchased after mm/dd/yyyy may not be rented for the first year of ownership.

This allows a loophole for those homes that may be inherited.

Any home purchased by a non-family member after mm.dd.yyyy may not ...

Might protect a situation where one family member buys out the others as part of settling an estate.

Sikubali jukumu. Read all posts at your own risk.

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