Posted on: 22nd Sep, 2010 06:06 pm
Can a 50% of a property be sold by a life estate owner & owners after life estate? If I buy 50% of property with agreement with all parties that property is to be put up for sale to the public do I as new buyer of 50% get half of proceed of sale and what % of sale goes to life estate owner & what to other owners by Calif. law.
Welcome mickey,
If you're 50% owner of the property, then you you will get 50% of the sale proceeds if the property is sold off. The other owners will receive the rest of the 50% of the sale proceeds.
If you're 50% owner of the property, then you you will get 50% of the sale proceeds if the property is sold off. The other owners will receive the rest of the 50% of the sale proceeds.