Wolverine is not the brightest, and Bobby is likely not the best accountant out there, but neither would be so stupid as to maintain the property under sole ownership - the taxes would be astronomical. The school is likely registered as a non-for-profit organization, meaning there is a board of trustees. To this extent, Logan can certainly be 'fired' from his position as headmaster. But it's a moot point. It's not going to happen in the story.