Legal Question in Real Estate Law in California

Re: Multiple Owners

Their interest may not be affected but the property may be able to be forced to be sold. There are also many other reasons why your mother would not want to transfer the property now. For example, if the property has appreciated, it may be better to hold in her name until after her death. There are many considerations, you should hire an adviser.

JOEL SELIK Attorney at Law

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Re: Multiple Owners

If you want to protect the other owners from having a co-owner they don't want (such as in the event a co-owner's personal liability results in a transfer of ownership of their interest in the property), you can use a Limited Partnership or Limited Liability Company as the entity to hold the property. If an owner has a judgement against them, the only thing that can be gotten is what's called a charging order, which is the right to receive income from the property. The other benefit of using an entity is that it can insulate the owners from liability if you make the property a rental.

There are numerous problems with owning property as joint tenants or tenants in common unless you have written agreements to govern the relationship.

Feel free to contact me if you have any further questions.

Regards,

Austin G. Bosarge