Three common ways to transfer the cottage to your heirs

Jo and Lonnie Harrison of Houston enjoy making trips to their vacation cabin in Madisonville, Tex. On Feb. 2, 2018, Lonnie made the 1½ hour drive from their home to the property to check up on the place since they hadn’t been there for two months. When he arrived, the cottage was gone. “All I saw was pipes and blocks,” he told KTRK-TV. It turns out that the prefab cabin, which in fact hadn’t been paid off by the previous owner, was repossessed.

There may come a day when your own cottage, or cabin, changes hands. Let’s hope it’s because you’ve done some good planning, and perhaps that special retreat will end up in the hands of your children. Today, I want to talk about three common ways to pass the cottage to your heirs.

READ THE GLOBE AND MAIL ARTICLE >

Work with Colleen Whitney

At Whitney Residential we offer the highest level of expertise and service with integrity.

We are one of the leading real estate teams in Kitchener-Waterloo. Colleen Whitney has sold over 150 Million dollars in residential real estate. We have the market insights and superior negotiating skills to get the best results for our clients.

Contact Us