What is the name of your state? Massachusetts
If a trustee (major bank) uses it's discretion to affect the rent of a trust-owned property (family-owned mansion, lived in by one cousin), to increase rent from $2K/mo. to $5k/mo, although the wording in the original will states that the rent will be based on the economic situation of the family member in the house, would the tenant have a legal case against the 'discretion of the trustee'. They have just sent this cousin a letter, stating they are going to start charging rent based on 'fair market value'. If he moves out, the major bank is authorized to rent it out at the same value to another family on non-family member at the same value.
All family members are supportive (about 10 of us) of the increase, because said tenant has not invited any family members there in 28 years (didn't really have to, but all expenses are paid on house so one would think he might be appreciative), plus he rented out part of it, to subsidize his own monthly rent (violation of trust agreement)
I just wondered if we're looking at a legal battle over semantics.
If a trustee (major bank) uses it's discretion to affect the rent of a trust-owned property (family-owned mansion, lived in by one cousin), to increase rent from $2K/mo. to $5k/mo, although the wording in the original will states that the rent will be based on the economic situation of the family member in the house, would the tenant have a legal case against the 'discretion of the trustee'. They have just sent this cousin a letter, stating they are going to start charging rent based on 'fair market value'. If he moves out, the major bank is authorized to rent it out at the same value to another family on non-family member at the same value.
All family members are supportive (about 10 of us) of the increase, because said tenant has not invited any family members there in 28 years (didn't really have to, but all expenses are paid on house so one would think he might be appreciative), plus he rented out part of it, to subsidize his own monthly rent (violation of trust agreement)
I just wondered if we're looking at a legal battle over semantics.