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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 35795
Experience:  16 years real estate, Realtor. Landlord 26 years
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I have a real state question. I live in the City of Los

Customer Question

I have a real state question. I live in the City of Los Angeles, same as the property in question. I signed 8 quit claim deeds to my family’s house around 2006. My family’s home was purchased under my name in 1978 and I have held the title in my name ever since. Before my father passed away in 2006 he asked me to sign quit claim deeds to my 8 brothers and sisters, there are 9 of us. The quit claim deeds were not registered for one reason or another, mostly my siblings knew that once their name was on the title it became community property and their spouses would get half of their part.
I was left in charge of my mother money wise. The property has been refinanced twice since the quit claims were signed. The most recent was in the summer of 2016. I hold the title as an unmarried man.
My siblings don’t lift a finger for anything that has to do with the house, repairs and maintenance, property taxes, homeowner’s insurance, and City of Los Angeles Housing Department annual inspections. I have to deal with everything.
My mother is my tenant for tax purposes. She pays barely enough to cover the mortgage. One of my brothers lives with her and pays very little rent to her and practically has use of the entire property, his son lives in one of the garages; my sisters’ son lives in the other garage and has been paying $200 per month in rent for at least 20 years. None of them don’t pay utilities. My mother is 79 years old and is ill and losing her mind. Before she got to this point it was my monthly argument with her to stop letting those three sponging off her. They are her favorite son and favorite grandchildren. (Street parking in the area is at a prime, off street parking alone is worth more.)A monthly duty for me is to go to her house and collect the money for the mortgage payments. She and my brother get their social security checks on the 15th, the last day to make the payment without paying a late fee is on the 16th of the month. a second mortgage we had was due on the 5th of the month. I had to make that payment and basically give her a ten day loan.
She used to save monthly to pay the property taxes and the homeowner’s insurance. She made the payments twice a year. Her mental condition deteriorated within the last year. About my freeloading brother now I see him as a blessing in disguise. He is basically her caregiver. The three years prior, she never had the money to pay for the property taxes and homeowner’s insurance. She would ask me for a tacit loan. She would offer me a couple of hundred dollars as an installment then quickly ask me for the money back, giving me a sad story about a three hundred dollar bill due. She was a master at playing guilt trips on me and manipulating me. A couple of months later she would offer me another installment and quickly ask for the money back because a large utility bill due. Her phone was constantly disconnected for lack of payment, it is now permanently disconnected. The bot***** *****ne is that I have been paying the property taxes and homeowners’ insurance for 3 years. Now she does not recall ever owing me any money.In the summer of 2015 I was very ill with tinnitus and rhinitis, I couldn’t function. She kept harassing me to refinance the house because she needed five thousand dollars. I told her that I had not filled my taxes for a couple of years and was in bad health, I couldn’t help her. My brothers and sisters call the house “our investment” and claim one ninth of ownership. I asked one of my sisters if she could help my mother with the money. She said no and went around bad mouthing me. I cashed in a four thousand dollar IRA, luckily I was over 59 and a half years old and did not incur an IRS penalty, still I had to report it and pay taxes as income. I loaned the money to my mother. Now she does not remember ever getting that money from me. The only ones who knew about it was he, a sister who got it from her, and me.They are under the idea that I get a huge tax break from t
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: California
JA: Has any paperwork been filed?
Customer: no
JA: Anything else you want the lawyer to know before I connect you?
Customer: Everything is in the message.
Submitted: 4 months ago.
Category: Real Estate Law
Expert:  Barrister replied 4 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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I have read all your comments, but I am not sure what your legal question is?

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Is it correct that you and 8 siblings are all on the deed to the property?

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thanks

Barrister

Customer: replied 4 months ago.
The question is if the quit claim deeds signed and notarized 10 ten ago are still valid. They were never filed. There have been two grant deeds to myself since then.
Second question is if I'm legally entitled to a management fee from the gross value?
Expert:  Barrister replied 4 months ago.

The question is if the quit claim deeds signed and notarized 10 ten ago are still valid.

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Yes, a deed is legally valid as soon as it is signed by the grantor and notarized. Although most people record deeds, it is not mandatory and it just serves to put the world on notice that a transfer has occurred.

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If there is a transfer from you to a sibling recorded in the property records, that will trigger a reassessment by the Board of Equalization and the taxes will increase to whatever they would be at fair market value for the house.

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If the siblings have deeded their interests back to you, then those would control as it is the latest deed that controls. But once they received their interests, you only own 1/9 of the property so if you deeded your interest out to someone else, you can't deed more than you own, so the most you could transfer is 1/9.

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Second question is if I'm legally entitled to a management fee from the gross value?

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Not unless there is some type of agreement, verbal or written, with the rest of the owners to pay you. If there is no agreement, you can't unilaterally impose one..

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With all that said, if mother has deteriorated to a point where she needs long term care, you could file with the probate court or family court to be appointed her legal guardian and then move her to a long term care home. You then could file a "partition" action to force a sale of the property so that you could "cash out" your interest if you wanted to do so.

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From a purely financial perspective, it looks like you are the only one pulling the wagon with everyone else riding in it..

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thanks

Barrister

Customer: replied 4 months ago.
Third question. Am I responsible for the capital gains taxes and depreciation, or is it implied that it will have to be equally shared?
Expert:  Barrister replied 4 months ago.

Am I responsible for the capital gains taxes and depreciation, or is it implied that it will have to be equally shared?

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No, each owner bears their own responsibility. If you are depreciating the property as a rental, then if you were to sell it, any capital gains and taxes would be each owner's separate responsibility depending on their financial situation.

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thanks

Barrister

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