Posted on: 05th Jan, 2010 10:03 pm
My two brothers and I have recently inherited property yet one brother lives on the property now (for free) and has lived on this propery (for free) for the past 20+ years. With the deed being transferred into all 3 names, the one brother residing there is proposing that he continue to live there (for free) but has proposed that he pay the property tax, maintenance, upkeep and all expenses.
Will this eventually give him claim to the property? If so, in what time period?
Note: This property is located in California and is worth close to $2 million.
Will this eventually give him claim to the property? If so, in what time period?
Note: This property is located in California and is worth close to $2 million.
I forgot to mention that there is no mortgage on the property.
Also forgot to mention that he is requesting a partnership agreement, asking me to agree to the terms outlined above. As of now, I am refusing to sign that agreement. Any advise?
Also forgot to mention that he is requesting a partnership agreement, asking me to agree to the terms outlined above. As of now, I am refusing to sign that agreement. Any advise?
As per the adverse possession laws of California, if your brother uses the property and pays for the taxes and maintenance of the property for 20 years, then he may claim the property as his own. Adverse possession is a method through which the title of another person's real property is obtained without compensation, by holding the property in a way which conflicts with the original owner's rights for a certain period of time.
If your brother wants to stay in the property, then you and your other siblings can ask him to buy you all. Thus, you'll receive your share of the property and then transfer the property title to him. If he is not ready to buy you out, then you and your other siblings can ask him to leave the property as you would be considered as the owner of it.
If your brother wants to stay in the property, then you and your other siblings can ask him to buy you all. Thus, you'll receive your share of the property and then transfer the property title to him. If he is not ready to buy you out, then you and your other siblings can ask him to leave the property as you would be considered as the owner of it.
I just reviewed the Adverse Possession Laws and learned that the brother residing on the property can claim possession of this property if he resides there for 5 years, pays the taxes and maintains the property.
Q. Does this possession start from the time that the deed is tranferred to his name as a co-owner or from the date that he first moved there?
History: He has resided on this property for over 20 years (for free) but the property has been in a trust for the past 11 years with all expenses being paid from the trust. Prior to that, my parents were alive (and assuming all expenses) but the property was also in a trust during that time.
Q. Does this possession start from the time that the deed is tranferred to his name as a co-owner or from the date that he first moved there?
History: He has resided on this property for over 20 years (for free) but the property has been in a trust for the past 11 years with all expenses being paid from the trust. Prior to that, my parents were alive (and assuming all expenses) but the property was also in a trust during that time.
... and one more question
If the party residing on the property only pays a portion of the property tax (1/3), could he still claim adverse possession?
If the party residing on the property only pays a portion of the property tax (1/3), could he still claim adverse possession?
Hi Geo,
You've mentioned that out of the past 20 years that he stayed on the property, property taxes for 11 years were paid from the trust. If he wants to claim the possession, he will claim it from the period he paid the taxes on that property. However, as far as I know, if he just paid a part of it, then he won't be able to claim adverse possession.
Thanks
You've mentioned that out of the past 20 years that he stayed on the property, property taxes for 11 years were paid from the trust. If he wants to claim the possession, he will claim it from the period he paid the taxes on that property. However, as far as I know, if he just paid a part of it, then he won't be able to claim adverse possession.
Thanks
Thanks James. That helps to clarify matters.
how do we do taxes and claim property if there are three owners