You don't give any hint as to what it changed to so you will get nothing but wild guesses. Since the same family has owned the rental property since the 60's I would assume there might be a few family members getting up in the years and thinking about what they want done with the property when they pass on. It could be as simple as the property has been placed in a trust to avoid paying inheritance tax while passing the property on to surviving members that still want to use it as an income property and not sell it.
Changes could also be made due to becoming an LLC, incorporating or just flat out taking on other business interests. Calling the business Jones Family Apartments would sound odd if they just bought a couple food trucks to diversify their business interests.
Last edited by Inner Dirt; 09-01-2021 at 01:53 PM.
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