3 Friends own real estate as joint tenants.What would be the result if one transferred his interest to onother
100893
The other two would frist have to agree with the exchange in ownship. And the new tenant would just take the other spot and they still would be joint tenant but if he transfered the ownship to one of the tenants the other two would be now tenant in commom
954564
I have a lot of money invested in real estate. My advice: don't take on partners you don't know well. They will try to screw you legally. You must be in this for the long term. The short term boom has now passed. Buy low and hold tight until the next sellers market in about 3 years depending on a variety of things. Good luck.
707060
Part of the answer depends on how your names are listed on the Deed. In North Carolina there are two ways to own property jointly with someone to whom you are not married: either as tenants in common or Joint Tenancy by the entirety.\nThe first means each of you own half of the house and could sell your "half" to anyone you like. Fairly rare in residential properties, especially if only one of you is on the loan. \nthe other, Joint Tenancy by the entirety is the same as if you were married at the time you bought the house - that is, each of you owns a "half" interest in the house, but that interest cannot be sold to a third party. Additionally, if one of you were to die, the other would automatically own the entire property without going through probate.\nWhile that doesn't really answer your question, it sounds like you need to sit down with an attorney and your boyfriend and discuss whether you should be "bought out" and for how much, then you could sign a quit claim deed and be releaed from ownership and future liability, i.e. property taxes, water and sewer bills, etc.\n\n-NC Realtor
126229
if i was you, i would pay 2/3 of any loan as you have invested 2 times as much...pay 2 times as much of the loan back and get 2 times the profit your friend does
589301
They can hold everything up, which is why this is such a hard spot to be in.  We studied the ways to inherit property when I got my real estate license.  This problem came up again and again as an example of what happens when parents leave property equally to all children.\n\nIf you can't reach them by phone and work it out, you'll have to get a lawyer.  Which is never good for family.\n\nYou are all joint tenants.  Two of you can sign over to the third, who will then be in joint tenancy with the 4th.  The first two will be out of the equation for any remaining decisions on the property, effectively the same relationship as before- just less people involved.\n\nYou can legally sell your shares to the third as well as give them away.  Good luck, I wish you well.
1008273
You can do a like-kind exchange, where you trade the property for another, and defer your gain until you sell the new property. The rules are complicated--you should talk to a CPA.
311130
I'm pretty sure that C can do that, because 1/3rd of the partnership is his. The Partnership, provided its not a corporation, is part of his personal assets.
276922
Actually, this is a reverse split. You get 4 for every 5 you own. Sounds like the compnay is buying back some of their interest.
379215
if you've lived in your current principle residence for at least 2 years out of last 5 years, then you have $250k tax free capital gain (or $500k for married couple). any gains over this amount will be taxed regardless whether you invest in another house or not.
1018825
Generally each tenant in common has a right to occupy the entire property, however he cannot oust another tenant in common.\n\nTenants in common may have unequal shares (unlike joint tenants). (Example: A and B may hold as tenants in common, with A holding an "undivided one-quarter interest" and B an "undivided three-quarters interest.") [179]\n\n Rebuttable presumption of equality: If the conveyance does not specify the size of the interests, there is a rebuttable presumption that equal shares were intended.
1182768
If they have entered into buying a property together, then they have to sell it and divide or buy out who ever is leaving.\n\nCommonly there is argument over the shares, the court will use constructive law principles to sort it out. \nIf they have not done any joint transactions, then they no owe to liability to each other. \n\nTwo people living together generally has no meaning, but the law will construct trusts to solve property disputes.\nThey can try to reach an agreement about who gets joint movable property ie possessions, if they can't they may resort to getting lawyers. This would be counter productive as the costs are prohibitve for trivial dispute.
648324
if u live in california i can do the work for you. does your friend currently have a second on his house? if he does refinance depending on how much equity over the house you have u can join both loans into one and at the same time add in the $5-10 k you owe(u would get a check or cash if ud like at the signing). if he only has one loan on his house he can open up a second for the total equity you have available. im pretty sure they wont do a $5-10k loan but wat will happen is that u open a second for the total equity available to u and u just use what you need that come with really low interest rate
68840
If you have children and u left him with the children, he can go to family court and get and a temporary  order( pendente lite) for you  to contribute now. Otherwise,When and if u r divorced, the settlement will reflect this. If the note on the house is more than the house can be sold for and there are not other offsetting assets ( pensions, cars, IRA's, Householfd furnishings etc.) he could potentially get a judgement against you for half of the difference.
936346
There's a couple things they should consider: First, as previously mentioned, joint tenancy gives automatic survivorship rights to the other party if one party dies.  This is great for a married couple, not good for two unrelated guys buying a home together.  They should probably take title as "tenants in common".  This is usually done with investors, and anyone else that may not wish their stake in the home to go to the other party with no compensation.\n\nSecond, and BEFORE THEY CLOSE, they need to find an attorney who can advise them on a couple issues.  First, what happens if one person dies?  If your BF's friend dies, his stake in the property is locked up in probate for a while.  A will should probably be drafted for both parties to address what happens to their stake.  If the BF's friend leaves his stake to his parents, is there a buy/sell clause?  Your BF should have the right to buy out his partner's stake, before being forced to sell the home to cash-out his heirs.  \n\nLastly, the will should probably address the survivor's rights to collect on payments for X amount of time, or something to protect your BF from having to make 100% of the payments during the transition period.\n\nAssuming this is being purchased as an investment, they may wish to incorporate themselves, to protect their personal assets against lawsuits, etc...  They can potentially purchase the property and quit-claim the deed into their corporation's name.  It is very common for partners like this to purchase some form of cheap term life insurance to cover the other in case of their death. \n\nBottom line, he has no business completing this transaction without spending a couple hours with a competent real estate attorney.  A few hundred bucks today could save many thousands later, if for any reason tragedy did strike.  \n\nThe attorney can always draft the purchase agreement for you for a nominal cost.
1186787
First of all, you're obviously no dummy if you already own 3 properties.  You've got some good equity and you're selling at the top of the market.\n\nWhat you need to figure out is how much money you're really going to have after you sell the properties.  If you'be been a landlord, I assume that you've been depreciating the properties while you've been renting them.  Well, now you're going to have to pay that all back to the government.  Also, you're going to have to pay capital gains tax on your properties (unless you've lived in one of them for at least 2 of the past 5 years), so there goes more of your equity.  All that affects how much money you'll have to invest, so figure that out.  It's important.\n\nNext, you'll have to figure out what your goals are.  If intend to buy another home to live in when you get to Florida, you're going to have to put some of your money into something fairly liquid for your down payment, like a  money market fund.\n\nI see you're participating in your employer's 401(k) fund.  That's good.  I hope you're contributing up to the maximum match.  Free money is good.\n\nNext, if you're not doing the IRA thing yet, do it.  Whether you choose the traditional or Roth IRA depends on whether you think you'll be in a higher or lower tax bracket when you retire.  Personally, with taxes at a very low point in history and a ballooning federal deficit, I'd bet on tax rates being higher when you retire so if I were you, I'd choose a Roth IRA.  Tax-free growth and withdrawal are good.\n\nIf you've maxed the IRA contribution out, go back to the 401(k).  Tax deductable contributions are good.\n\nFinally, if you still have money left over,  I'd put half into an index fund covering the total US stock market and half in an index fund covering the international market.  Go for no-load funds with low expenses.  I'd recommend looking at Vanguard, T Rowe Price and Fidelity fund families.\n\nIf you really want a good investment, go buy a book on investing so you can decide what makes sense for you. Sure, you could give your money to a financial advisor but how do you know he's not just in it for the fees and commissions he charges you? How do you know his advice is right for you? You need at least a foundation so you can make an informed decision. Frankly, nobody's ever going to care as much about your money as you are, so learn at least enough to know if any advice you're given is any good.  Personally, I like "The Only Investing Guide You'll Ever Need" by Andrew Tobias. It'll give you the basics. Good luck.
654088
you'll have to take it before a probate judge or seek legal counsel first. more than likely it will be set that the house be sold at market value and the money be split between yall,but if there is any outstanding debts they have to be paid first then what ever is left be split
480874
Only in your previous question asking for someone to invest $250k in the "upscale Bergen County Community".  I'm all ears!  What is Equity Sharing for purchasing a home?  Do you know?