Dear Big Move, I live in California. I bought an investment property in California with my sister. My aunt gifted us the money for the down payment. We weren’t in a position to qualify for a loan in the beginning, so my sister and her husband were on the loan. The three of us were all on the title.
In the beginning, my sister was paying the mortgage for the first few months. After that, I was paying all mortgages and property taxes. All rental income was deposited into my bank account, but they claimed the property on their taxes. We also did renovations and remodels throughout the years. I was paying for all expenses, except for three times my sister used their shared bank account and wrote checks for the workers. Now, my sister and her husband are going through divorce and it seems like her soon-to-be-ex has claimed interest in this property. Can he do that, and how much can he get from this? A Worried Homeowner ‘The Big Move’ is a MarketWatch column looking at the ins and outs of real estate, from navigating the search for a new home to applying for a mortgage. Do you have a question about buying or selling a home? Do you want to know where your next move should be? Email Aarthi Swaminathan at [email protected] Worried, In response to your first question, the unfortunate answer is yes, your soon-to-be-ex-brother-in-law can claim interest in the property. If your sister and her husband had bought the home after they got …
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In the beginning, my sister was paying the mortgage for the first few months. After that, I was paying all mortgages and property taxes. All rental income was deposited into my bank account, but they claimed the property on their taxes. We also did renovations and remodels throughout the years. I was paying for all expenses, except for three times my sister used their shared bank account and wrote checks for the workers. Now, my sister and her husband are going through divorce and it seems like her soon-to-be-ex has claimed interest in this property. Can he do that, and how much can he get from this? A Worried Homeowner ‘The Big Move’ is a MarketWatch column looking at the ins and outs of real estate, from navigating the search for a new home to applying for a mortgage. Do you have a question about buying or selling a home? Do you want to know where your next move should be? Email Aarthi Swaminathan at [email protected] Worried, In response to your first question, the unfortunate answer is yes, your soon-to-be-ex-brother-in-law can claim interest in the property. If your sister and her husband had bought the home after they got …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]