Legal Question in Wills and Trusts in California

Hi, My aunt and uncle purchased a home in California 35 years ago. They put 35K down. Friends of theirs also put 35K down and all parties signed a notorized document that upon the sale of the home, all parties are to receive 1/2 the increase in value of the home. Is this enforceable? Also, if the friends of my aunt and uncle pass away or become incapacitated, can their family order the sale of my aunt and uncle's property? Thanks for your help. Christine


Asked on 6/16/12, 2:17 pm

3 Answers from Attorneys

Rosemary Meagher-Leonard Law Office of Rosemary Meagher-Leonard

Christine, like any attorney, I would need to review the contract between your aunt and uncle and their friends to full answer your question. But, generally, if there is a valid contract, then it is likely enforceable. From the terms of the agreement, as you've described them, it does sound like an enforceable agreement. Whether or not the house could be ordered sold in the event of the friends' incapacities or deaths depends on the terms (and the validity) of the agreement. It would also be important to review the estate planning documents, if any, of all parties to the agreement. I am also located in San Diego and would be happy to answer any additional questions for you. You can email me at [email protected] or telephone my office at 619-295-8705.

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Answered on 6/16/12, 3:20 pm
Kurt Seidler Law Offices of Kurt A. Seidler APC

there is an obscure English law that is also part of our civil code which provides that title must vest (ownership must be settled) within the lives in being at the time of the signing of the deed plus 21 years this rule may result in your agreement being void. Go see a lawyer soon.

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Answered on 6/17/12, 8:14 am


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