Landlord's Living Trust Gives House to Struggling Tenant

Apr 29, 2011 - LegalZoom News Sources
Landlord's Living Trust Gives House to Struggling Tenant

Norbert Stein, a landlord who purchased a number of homes in south San Diego County, California, during the 1960s and 1970s, recently added a provision in his living trust that gives a home to a struggling tenant.

The San Diego Union Tribune reports that the 98-year-old butcher lowered the tenant's rent previously due to financial and health problems, but recently decided to simply give the house to the struggling contractor.

"I only paid $22,500 for it years ago," Stein said. "It’s an old house. There are a lot of people who have problems paying rent, and I want people to help people because, when you go, you can’t take it with you."

The renter, who requested anonymity, told the news source that Stein's decision to give him the house in his living trust "blew us away," adding that Stein is the "most generous person I've ever met."

Creating a living trust can be extremely useful because it helps avoid probate court for one's assets after the person passes away.