If my wife and I purchased a home as tenants-in-common, what type of agreement should we have between us?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If my wife and I purchased a home as tenants-in-common, what type of agreement should we have between us?
My wife and I purchased a home. The form of ownership is tenants-in-common with me as a 60% owner and my wife a 40% owner. What type of agreement should we draw up between us to ensure avoid problems upon death, as well as any possible disagreements down the road?
Asked on April 12, 2012 under Real Estate Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you are holding the property as community property it is split as 50/50. But it seems that you have chosen to actually split it differently and not with rights of survivorship. How that would hold up with out another agreement in place is undeterminable at this point in time. Now, I think what you need to do is to go an speak with an attorney on the matter about a post nuptial agreement and discuss what your assets are, what the law is regarding your assets, what outcome you wish and what your chaoices are. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.