Legal Question in Real Estate Law in California
Joint Tenancy
My parents and myself own a residence and they claim that they are 2/3 owners on our residence.
I have the understanding that they are considered one entitity so therefore they are 1/2 owners together and I am the other 1/2, that there is not 2/3 and 1/3 owner on Joint Tenancy.
My parents now want to sell the home and want 2/3 of the resale on the home, so if at the time of selling the house would escrow cut checks 50/50 or 2/3 and 1/3.
The grant deed states husband and wife and single woman all as joint tenants.
Thank You.
2 Answers from Attorneys
Re: Joint Tenancy
Nice Try. Your interest is 1/3 [absent an agreement to the contrary].
Re: Joint Tenancy
The way the deed reads strongly favors 1/3 - 1/3 -1/3. Married couples often hold property jointly with a 1/2 interest in the marital community and a 1/2 interest in someone else, but there can be, and are, exceptions, and this seems to be one.
Other written instruments, such as the purchase contract for this house, or the trust or will of a decedent, might be evidence of a contrary intent, however, and you should refer back to all the circumstances surrounding the acquisition of the property by the three of you.
Also, if the house were purchased (rather than inherited) and you paid 1/2 of the down payment, this would support a 1/2 - 1/2 ownership argument in court.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
