Legal Question in Real Estate Law in California

Does a recorded deed that explicitly says "gift of equity", and grants from A to A & B automatically mean that A and B each have an undivided half interest? If the deed was executed to enable A and B to be co-borrows on an equity loan that B solely repaid for improvements to the property that only A occupied, does that in any way limit B's interest to the value of the equity loan?

Asked on 6/19/13, 12:41 pm

3 Answers from Attorneys

Gary R. White Burton & White

Maybe, but a full explanation of all the facts and circumstances surrounding the transaction would be required before a competent answer could be given.

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Answered on 6/19/13, 2:16 pm

William Christian Rodi Pollock

I do not believe any one can really answer your question without being able to see the documents in question.

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Answered on 6/19/13, 3:38 pm
Anthony Roach Law Office of Anthony A. Roach

The terms "gift of equity" have nothing to do with the amount of the parties' interest. It means the owner sold to someone, who they usually have a prior relationship with like a child or friend, for less than market value. The lender will loan on it and treat the equity gift like a down payment. Certain amounts can also be excluded from gift taxes, but it does not change the percentage of ownership or change any of my previous responses to this question that you keep posting.

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Answered on 6/21/13, 4:29 pm

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