Legal Question in Business Law in California

That depends on exactly how you hold title between you, whether there is or will be community property involved and what her estate planning documents ( ie will or trust) say. This is a far more complex question than you might imagine, and a significant part of it is beyound your control as a co owner. See counsle and prepare a co ownership agreement or form a partnership. By the way, whose name is on the property and the loan? If it is hers, how do you plan to prove you own anything?

..........but your question expressly states that "only one person is on the loan and title.

Based on the husband's signed waiver, it is very doubtful there will be any community-property interest, especially if she pays the loan principal with separate funds, but probably none anyway. If she should pass away, ownership of the condo (or her share of the condo) will pass to her heirs -- not necessarily her kids -- according to her will and/or trust, or if she has neither, as provided in the Probate Code for intestacy (Probate Code sections 6400 et seq.), which would be part to the surviving spouse and part to the kids, the percentages depending on how many kids there are.

Now, a word of caution. When unmarried people buy property together and consider themselves co-owners, but record title is held by fewer than all of them, there is considerable room for misunderstandings, disputes and lawsuits. It is possible, although it's an uphill battle, to prove in court that you are indeed a co-owner even though recorded title down at the courthouse doesn't show that fact. I definitely do not recommend becoming a co-owner without having your name, and a clear indication of your percentage interest, and the fact that you are (for example) holding your share of title as a tenant in common, on the deed that is recorded.

In addition, you and the other co-owners should have a written agreement as to many of the other particulars of shared ownership. These may include what periods of time each co-owner may use the property, and/or which rooms; who pays the taxes and insurance; whether a co-owner may sell his or her part interest; how you'll decide when to undertake major repairs or additions; how disputes will be settled; and so on.

Finally, if there is a homeowners' association, be sure that the ownership and use arrangements you have in mind are consistent with their rules.

Whoever is on title is the owner. On that person's death, the property is disposed of by any trust, will, or by intestate rules to her heirs. Anyone else claiming an interest would have to litigate expensively to try to establish a right to any part of the proceeds. Also, the owner on title can sell, transfer, mortgage, etc. without your consent.

Meaning no offense, but this is the dumbest thing you could do regarding property 'ownership'. I suggest you hire an attorney to structure this situation properly with contracts and title documents that protect the participants.

If serious about hiring counsel to help in this feel free to contact me. .