Can a joint owner rent a house without the other partner’s consent?
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Can a joint owner rent a house without the other partner’s consent?
Asked on December 13, 2011 under Real Estate Law, New York
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Absent a written agreement to the contrary a joint owner can rent out a piece of property owned by several owners without the consent of all owners. The rationale is that under partnership law, one partner in a transaction pertaining to the partnership can bind all other partners.
Joint ownership of a home by multiple owners is a partnership for all intents and purposes. Note, it is best to get appproval of all other owners before making a decision about renting out a jointly owned home to prevent against possible problems.
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