Is a CoTOP entitled to rent or other reimbursement for exclusive use and possession of the common property?
MultiRegion, United States of America
The following excerpt is from In re Fazzio, 180 BR 263 (Bankr. E.D. Cal. 1995):
However, in the absence of third party tenants, an ouster, or an agreement, a CoTOP is not entitled to rent or other reimbursement for a CoTIP's exclusive use and possession, because each cotenant is entitled to occupy all of the common property. Pico v. Columbet, 12 Cal. 414, 420 (1859). Furthermore, when a CoTIP derives profits from the common property, the CoTOP has no right to a proportion of the CoTIP's profits. Id. at 420-21.
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