Legal Question in Real Estate Law in California

Re: Real Property ownership / Tenant in Common

a tenancy in common is a type of "co-ownership" between two cotenants. its just how title is held legally, i.e. tenants in common, joint tenancy, etc...

if you would like further assistance regarding this agreement, email us your contact information for a free phone consultation.

Re: Real Property ownership / Tenant in Common

"Tenants in Common" is but one form of co-ownership. Have any attorney review any contract you sign, especially affecting rights to real property.

Re: Real Property ownership / Tenant in Common

You are both. The standards are the same for the contracts.

Re: Real Property ownership / Tenant in Common

Co-owners of property can be "tenants in common," "joint tenants," "husbands and wifes as community property," and a host of other designations. How title to property is vested, and the reasons for any particular designation depends on a number of factors, and each designation, at least in California, has a different legal significance. Before any attorney can give you competent advice in this area, you will need to provide additional information, such as how did your tenant "purchase a minority share" of the proeprty? How did you become an owner of the property? Are you an owner by virtue of the existence of a partnership agreement (either verbal or in writing) between several persons who invested money to purchase the property? Who actually holds legal title to the property? Is it you or some other person or entity? Or is it each of the owners in their individual names?

Until these questions are answered, and an attorney reviews the contract your "co-owner" has presented you, I would suggest that you sign nothing. I would advise you, however, to consult with a reputable attorney whose practice emphasizes real estate. Even if you have to spend a couple of hundred dollars, that may be nothing compared to what you might loose if you sign an agreement without completely understanding what you are signing.

You can usually get a referral to a reputable, knowledgable real estate attorney from friends, family, or a local bar association by simply asking.

Re: Real Property ownership / Tenant in Common

"Tenants in common" means co-owners of the plain vanilla sort, distinguished from joint tenants, community property, etc. -- it does not refer to a landlord-tenant relationship in any way. The two (or more) meanings of the word "tenant" are historic and flow from the Latin verb "tenere," meaning "to hold" (compare tenacious, tentacles, etc.).

The legal rules relating to tenancies in common are straightforward but need to be understood. Each tenant in common has the right of possession and may not exclude, or be excluded by, another tenant in common from any part of the property, regardless of percentage of ownership. Tenants in common should share rents and profits flowing from and expenses (taxes, maintenance, etc.) related to the property, but a tenant in common in possession does not share profits or costs with a tenant out of possession which are related primarily to his labor (as opposed to flowing from the land itself).

A tenant in common may sell or pledge his interest, but may not sell or encumber the other owner(s)' interest(s). For this reason, owning and managing property owned in common requires, as a practical matter, a high degree of cooperation between the co-owners. This is why lawyer-crafted written agreements between tenants in common are highly desirable.

As the majority owner, perhaps you should take a more active role in drafting the agreement.

If tenants in common (or joint tenants) cannot agree on possession and management matters, any co-owner may petition a court for partition. This may be a court-supervised sale with fair division of the net proceeds or, less frequently, a physical subdivision into two or more parcels.

Re: Real Property ownership / Tenant in Common

This is not just a legal but a practical problem for you. I am very curious is to how this all happened and have numerous other questions. He is now you're "partner". Tenants in common or cotenants are the same thing. It will depend upon what percentage interest you have verses what percentage interest he has to begin with. The problem is he has an interest in the property and without a written agreement between you to each of you had certain rights. Additionally, since he is at the same time a tenant to the property his interest legally merges which causes either a further difficulty for him as well as you. This is not a question they can be easily answered and will depend on what he once you to agree to as to whether or not you showed or shouldn't. Do not sign anything before you obtain advice of an attorney. I am in the San Francisco Bay Area and if you wish to consult with me 925 -- 945 -- 6000.