- 3 - trust known as the "Timothy J. Tehan Irrevocable Trust". On November 5, 1997, in anticipation of the three deeds discussed below that decedent executed with respect to decedent’s residence, decedent and decedent’s children executed an agreement (November 5, 1997 agreement) concerning that residence, which was the only agreement with respect to decedent’s use and occupancy of decedent’s residence into which decedent and decedent’s children entered. The November 5, 1997 agreement provided in pertinent part: THIS AGREEMENT, made this ___ day of _______, 1997,[2] by and between TIMOTHY J. TEHAN and TIMOTHY R. TEHAN, ANN M. SANNER, PATRICK G. TEHAN, EILEEN T. TEHAN, DANIEL J. TEHAN, ERIN M. BOCCIA, MAUREEN R. TEHAN and WILLIAM T. TEHAN (collectively the “Owners”). * * * * * * * NOW THEREFORE, in consideration of the mutual promises, covenants and agreements herein contained, the parties agree as follows: 1. Occupancy of Property and Payment of Ex- penses. Timothy J. Tehan shall have the sole and exclusive right to the use and occupancy of the Prop- erty for such period of time as he desires. While he is occupying the Property, Timothy J. Tehan shall not pay any rent, but shall be solely responsible for the payment of any mortgage secured against the Property, the monthly condominium assessment, the annual real estate taxes and insurance premiums for the Property, and all costs or expenses in connection with the main- tenance and repair of the Property. At such time as Timothy J. Tehan ceases to occupy the Property, such costs and expenses shall be divided between the owners of the Property, in accordance with their percentage 2As we found above, decedent and decedent’s children exe- cuted the agreement on Nov. 5, 1997.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011