Legal Question in Real Estate Law in California

If it does not state otherwise, it is tenants in common by default. It may not have been the best decision to deed property to children from a tax standpoint. You are now stuck with his basis, which could be quite low if the property was purchased some time ago. That means you will have capital gains tax when sold. That could be avoided if the property was in his name when he passes away. You may also be reassessed for property taxes if you do not file papers with the county.

Mr. Koenen is correct. On top of that, if there was more than $13,000 in equity in the house, your father must pay gift tax on everthing about $13,000.

While the answer to your question is that the default is a tenancy in common, we are all cringing because the idea of your father, or any layperson, filling out deed forms and recording them is a very dangerous game. You'll be lucky if only the tax issues are messed up.