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What forms are needed to correct the title on my rental property to show my true ownership?

What forms are needed to correct the title on my rental property to show my true ownership?

Q: Do I own half the house if my name is on the deeds?

If your name is on the deeds as a joint tenant, you typically own half of the property. However, if the deed specifies a different ownership arrangement, such as tenants in common, your share may differ. It's essential to review the deed and any agreements made with co-owners to determine your actual ownership percentage.

Q: What is one disadvantage of joint tenancy ownership?

A significant disadvantage of joint tenancy ownership is that it can limit your control over your share of the property. If one owner wants to sell or make changes, they typically need the consent of the other owners. This can lead to conflicts, especially if the owners have different interests or financial situations.

Full question:

My Dad (joint partner) and I bought a Duplex. We agreed that since the idea was mine, I would pay for it and own it. I paid a total of 99.6% of the total duplex property and have proof of my payments. Deeds are incorrect (joint tenancy) and should have my true percentage of ownership. I improved the property, had it assessed by the assessor. My property taxes were understandably raised. I paid off the property. Years later, my joint partner died. The entire property is being reassessed again. My property taxes are enormous and it is too expensive for me (a disabled senior on a fixed income). The Assessor said that I need a judgment quieting title to correct this terrible situation. Since I am a disabled senior I will probably need to represent myself in Superior Court. I need the forms necessary to quiet title.

Category: Real Property
Date: 04/07/2025
State: California

Answer:

See the following websites:

http://www.courtinfo.ca.gov/forms/fillable/cm010.pdf

http://www.supremelaw.org/cc/sowers/petition.htm

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What is a disadvantage of joint tenancy ownership?

One disadvantage of joint tenancy ownership is that it can lead to complications when one owner passes away. The surviving owner automatically inherits the deceased owner's share, which may not align with the deceased's wishes. This can create disputes among heirs or family members, especially if the deceased intended for their share to go to someone else.

What happens to a jointly owned property if one owner goes into care?

If one owner of a jointly owned property goes into care, the property remains jointly owned. However, the owner in care may not be able to manage their share effectively. Decisions about the property, such as selling or renting, typically require consent from all owners, which can complicate matters if one owner is incapacitated.

Do I own half the house if my name is on the deeds?

Why avoid joint ownership?

Avoiding joint ownership can prevent potential legal complications, such as disputes over ownership rights after one owner passes away. Joint ownership can also complicate financial matters, like taxes and debts, as both owners are equally responsible. Additionally, it may not reflect the true intent of ownership if one party contributes more financially.

What is one disadvantage of joint tenancy ownership?

Why is joint tenancy sometimes called a poor man's will?

Joint tenancy is sometimes referred to as a poor man's will because it allows for the automatic transfer of property to the surviving owner upon the death of one owner. This can bypass the probate process, which can be lengthy and costly. However, this arrangement may not reflect the deceased's true wishes regarding property distribution.