Joint Tenants - Posted by Dea

Posted by John J. Merchant on September 23, 2004 at 24:56:37:

You’re right about not wanting to stir up the rest of the family with an “undue influence” claim.

You and I have both seen some real bloodbaths caused by such, and only the lawyers come out well on one of these wars.

The way to avoid such is do everything here totally above-board and in the open…ANYTHING you do that’s concealed might rise and bite you hard someday.

Joint Tenants - Posted by Dea

Posted by Dea on September 19, 2004 at 10:30:54:

My mother and I own house as joint tenants.
Due to hurricane, we are selling.
Family involved, issues concerning investment aros
I pay mortgage for three years, taxes, some investment down and insurance, improvements.
She paid a down payment for me to get the loan and pays only her share of utilities.
If family gets involved, can become ugly.
What recourse do I have to maintain my original investment and equity when house is sold?
I keep detailed receipts of all transactions with property.

Re: Joint Tenants - Posted by John Merchant

Posted by John Merchant on September 19, 2004 at 23:52:03:

I’d do everything possible now, to get a deed from your Mom, of all her interest, with your giving her back a note & contract to pay her at certain time, etc…so now you own & control the property and the other family can’t get into the deal.

Re: Joint Tenants - Posted by Garrett Sutton

Posted by Garrett Sutton on September 22, 2004 at 22:51:10:

Another way to approach this is as follows: Get an agreement that acknowledges the greater amounts you have contributed. These monies can be paid back to you pursuant to a promissory note secured by a deed of trust on the property. This will give you the money back that you have advanced, especially when you sell the property. Getting a grant deed from your Mom may smack of undue influence and then you’ve really got the family involved. Good luck, Garrett