Rent payable to co-owners?

[Armadale]

I have a question regarding paying rent as a co-owner.

My unmarried partner died in January, she had a 70% stake in the property and I owned the remaining 30%. There is no mortgage.

We were tenants in common so her 2 adult children have inherited her 70% share. The children want their share of the money in the house so we have agreed to market the house in spring 2023 with my 94 year old mother and myself living in the house until sold.

Until the house is sold they want to receive a monthly payment equalling 70% of the market rent. As co owners is it reasonable for them to demand rent and, if so, is market rent the appropriate amount.

Thank you.

[atticus]

Yes on both counts.

The 70% owners can go to force a sale.

[dslippy]

Atti has it right, subject to the absence of any deed of trust declaring differently.

[atticus]

I meant to say "go to court to force a sale".

[Armadale]

Thank you both.

I would have thought that as a co owner, demanding market rent is unreasonable in that I have an interest in maintaining the property to a higher standard than any tenant would? Therefore a lower rent should apply.

[dslippy]

It is called an occupation rent, and the consideration you describe does not apply. Instead, agree that any money spent on improvements goes into the calculations of division when the property is sold.