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Thank you. I would like an option that allows my brother's half interest and mine to be passed on to our respective children allowing each family subset 50% of the time and cost sharing in the cabin. Does such an option exist under joint tenancy? If not, what is a better choice?
Thank you. Is there a specific option that avoids the risk of Partition demands in the future?
Thanks for following up. My goal, if the option exists in Canadian law, is a succession of the cabin, divided equally between my children and my brother's children, that avoids the possibility of partition. An LLC in the US allows structuring succession to avoid partition. Does a similar legal vehicle exist in Canada? Joint tenancy does not avoid the possibility of partition.Are there management systems or operating agreements that prevent one unhappy member from forcing sale of the property?
Is a family trust my only option? If not, what other vehicles exist? What would be your choice if you where in my position given the parameters I have outlined?
Last question and thanks for running this down from a week ago.