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fred cook fred cook is offline
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Join Date: May 2001
Location: Deep South
Posts: 5,145
Garage
Partnerships..........

My sister and I are partners in owning a commercial rental building. We have owned this property for about 34 years. She is in the banking business and is better trained/more comfortable taking care of the checkbook and keeping the records balanced while I am more capable of managing the physical property, looking after the mechanics of the building and acquiring new tenants when needed. The associated checking account is available to both of us to view online at anytime. The most important things are communication and trust. We discuss issues before spending any money and both know when major bills such as taxes and insurance are due. She does her part, I do my part but we both are aware of what the other is doing. Not complicated, no double signatures required, etc.
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1980 911SC coupe "Zeus" 3.3SS
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Old 06-08-2012, 04:50 AM
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