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  1. #1

    Default Perpetual Lease

    My question involves landlord-tenant law in the State of GA. My father-in-law inherited his deceased mother's homestead jointly with his sister. There are no mortgage or leins on the property. His sister died, and her estate fell to her oldest daughter, who lives out of the area and has no interest in the property except for cash, should it sell, (but it is in an extremely repressed area where sales have come to a halt.) My father-in-law would like to keep the property in the family, as it's sentimental value far exceeds any monetary value. He is in questionable health, and wanted to grant a perpetual lease to his son (my husband) that would lease the land and house to him/us in perpetuity in hopes that we would do the right thing and keep it in the family for as long as possible, or at least until property values have risen back to reasonable levels.

    My questions are: Would a written perpetual lease require the lessee's (our) consent to walk away from the lease before anything could be done with the property (selling, etc)? Would adding 'jointly and severely' in reference to me and my husband allow this lease to be uninterrupted in the event of my husbands death? Also, looking to the future, is there a legal way to include our children on the lease as well (who are only 7 and 12 at this time).

    Thanks for any info on perpetual leases.

  2. #2
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    Default Re: Perpetual Lease

    What do you mean by "in perpetuity"? Do you mean, for the rest of your husband's life? How would this lease even work - who would be the landlord? What you propose would probably fail under your state's (drum roll, please) rule against perpetuities; if you want to set up some form of complicated land trust, you need to be working with a lawyer.

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