Solution-Manage the property and pay howard and mary

Manage the property and pay howard and mary

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Reference no: EM132067469

Howard (age 67) and Mary (age 64) Peterson have been retired for a few years. They own property worth $750,000. They are tired of maintaining their property and are looking to sell. They decide to have a local college take over their property through a split-interest agreement. The college will manage the property and pay Howard and Mary $40,000 annually until their deaths. At that time, the property reverts to the college.

Reference no: EM132067469

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Manage the property and pay howard and mary

Reference no: EM132067469

Reference no: EM132067469

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