Legal Question in Real Estate Law in California

I am the executor of my father's estate. He owns a duplex with my sister. he contributed 270000 and she contributed 40000 as down payments. There is a mortgage of 530000, an LOC of 36000, and a loan to the builder for 225000. My father and sister are contributing equally for the mortgage payments, insurance, and property taxes. What should be included in the coownership agreement?


Asked on 9/20/16, 2:11 pm

1 Answer from Attorneys

A lawyer. Between the Real Estate Law, Tax Law, and Estate Planning Law implicated by the arrangements you describe, it would be asking for a LOT of troubles down the road to skimp or pinch pennies. Have a qualified local attorney guide this transaction. There is no possible way to address all the points that need to be covered in a free internet Q&A forum.

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Answered on 9/20/16, 2:47 pm


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