Buying home with IN LAW,share costs??

Does title really show Husband, Wife, In-Laws each have a 1/3 interest? It would seem to me that if Inlaws put down $40, and you put down $40 (including rehab costs) that you and Husband would have 50% and In-laws would have 50%. However, assuming you and Husband do own 2/3, you would normally split rental income and maint per ownership stake. In my properties, I always write the agreement so that the one taking care of all of the trenant issues receives a credit for the "management" of the rental. If you were to accept a credit of say $100 per month for interviewing, showing, processing rent and other "Landlord" duties, then that would come off the top of the rent, with the balance being split based on ownership.The bottom line is that the one dealing with the tenant should be entitled to some benefit for putting up with the hassle. You may be blessed with a perfect tenant, but don't bank on it.Good luck

Bert Answered this question perfectly... I have owned 40 rentals at one time and I don't think I would ever want to live where I rent.. that being said... you keep the first $100 and the remaining $700 split 1/3 each is more than fair... WilliamAcres.com

Talk it over with them to find an equitable solution. Sounds like they did this to help you get into this home. I suggest you approach this with a humble attitude.Happy funding, Rudi