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Olivia Kent
Olivia Kent, Attorney
Category: Real Estate Law
Satisfied Customers: 871
Experience:  Partner at Kent Law Group, LLC
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I live in AZ and want to take title to RE property with my

Customer Question

I live in AZ and want to take title to RE property with my brother however he may have problems with the IRS and they have the power to lien or seize. What is the best way to take title to protect my interest (and investment) in the property?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Olivia Kent replied 1 year ago.
Hello. My name is ***** ***** I'm an attorney. I'll be happy to help you in any way I can. Honestly, with the type of legal problems you described your brother having I certainly wouldn't encourage you to take title with your brother to *anything*! If it is an option for you to take title alone, I would recommend that instead. Maybe you can pay him to maintain the property or something like that, so he doesn't feel like he's getting nothing. Also, I don't know if you could potentially convince your brother that taking title is not in his best interests – but taking title only to have it seized by the IRS seems sort of useless. I hope that helps. My goal is to make sure you are completely satisfied before you submit your rating so please let me know if you have additional questions or you need me to clarify anything. If there is a delay in the time it takes me to respond it is because I am working with a customer or I am not online - but rest assured I will respond to your follow up question, if you have one. Also, I am on a mobile unit, which automatically asks you to submit a rating once I submit a response – but please don't feel like you need to do so until we are done speaking.
Customer: replied 1 year ago.
If I feel that he will resolve these IRS issues (it's doable), what is the best way to take title, JTWROS or a land trust? Are there other advantages to holding property in a Land Trust in AZ other than privacy.
Expert:  Olivia Kent replied 1 year ago.
I would encourage you to wait to see if these issues ARE resolved... this is the IRS - so it's a pretty significant hurdle. Both joint tenancy with ROS as well as a land trust would be viable options if you decide to indeed take ownership with your brother.
Expert:  Olivia Kent replied 1 year ago.
Hello. I just wanted to drop you a note, to see if you had all the information you needed - or if you need additional information. If so, please let me know :)