Legal Question in Real Estate Law in California

property buy out or sale ?

my sister and I inherited a income property with 4 units total 18 years ago.

We both live on the property in seprate units and rent out the other 2 and

draw income from them.I would like my sister to buy me out of my half of the

property or sell the property. here is the catch, 17 years ago I signed quit

claim on the deed when i was in an auto accident and sued. I won the case.

But my sister never put me back on the deed and has lost her copy of our

mothers will. I was very young at the time (21) and never relized i had jus

signed my rights away to the property untill 6 months ago when we began

discussing dissloving our partnership. She now refuses to put me back on the

deed for her tax reasons and is trying to buy me out in a very tax burdened

way for me and not for her. What is my recourse ? What would be the best

most amicable way to seperate our fianances in the least tax burdened way

for both of us ?


Asked on 6/13/06, 7:37 pm

1 Answer from Attorneys
OCEAN BEACH ASSOCIATES OCEAN BEACH ASSOCIATES

Re: property buy out or sale ?

The will may still be in the court archives, but the quit claim deed is the problem. The quit claim deed was to defraud potential creditors, and your sister refusing to deed it back is pari delicto (fraud on both parts). A court may or may not give relief. Call me directly at 16192223504.

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Answered on 6/14/06, 5:37 pm


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