PatriciaV
Expert Alumni

Investors & landlords

Yes, a formal document would allow you to allocate income and expenses as you wish. Plus, you can decide if the HELOC interest should be split using the same percentages. A legal agreement might prove to be important if you decide to sell the property or if another family member wishes to join the investment.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"