- The Campfire
|Ontario Hunter ||12-09-2009 03:22 PM |
New Hunting Camp Start Up
I have recently purchased a 100 acre lot with 3 other people and we are going to build a hunting camp on the property. All of us come from other camps where we were members but not owners. All 4 of our names are on the deed and we are equal partners. Does anyone have any simple rules with regards to things like "someone wants out", one of the owners passes away, divorces, etc. We want to put some rules on paper and have all of us sign in agreement. Any help would be great.
I would make the rule that if someones passes away that the other members must pay his heirs 1/4 of what the property is worth in full settlement. Otherwise the heirs might want his share and they may or may not be who you want to be hunting with. Either 1/4 or some agreeded upon amount. Happened to me one time and the heir certainly wasn't who any of us wanted to hunt with, nothing but trouble. Be careful!
partnerships are always very risky in everything. its good you are all thinking of these things but being you 4 its really what you all want to do. good luck
|BruceBruce1959 ||12-09-2009 05:57 PM |
most important thing is each owner should name a person they want their share to go to in case of their demise.
|Ontario Hunter ||12-10-2009 07:50 AM |
Thanks for responding. We here a lot of horror stories and don't want to go down that road. I have been on the internet looking for a good "contract" or "agreement" to use as a template for our camp but haven't come across anything we like yet.
|timberghost ||12-10-2009 05:17 PM |
get a mediator or whatever you call em.
|joel the signman ||12-11-2009 11:35 PM |
make sure you spell out everything from who and when can hunt how its gonna be split up ,its gets ugly trust me:ranting:
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