Legal Question in Real Estate Law in Michigan

In Michigan, if two investors purchase a property jointly, does the deed have to be split 50/50, or can there be an uneven split?


Asked on 1/07/13, 2:52 pm

1 Answer from Attorneys
John Tatone John R. Tatone & Associates PLC

Generally, the deed does not indicate the percentage each owns only the type of ownership. If it is investment property, it is best to incorporate or form an LLC to own the property for liability and tax purposes. The operating agreement or corporate documents will dictate the percentage of ownership of the business that owns the property and what happens if other contingencies occur such as death of one of the investors. I have formed many joint ventures like this, please contact me for a free phone consultation at 888-988-LAWS (5297) or www.johntatone.com

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Answered on 1/11/13, 6:43 am


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