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NEED ADVICE ON A DELICATE MATTER - http://www.dealmakerscafe.com Forums

Original message

Mark(Vegas)

24.234.133.250

"NEED ADVICE ON A DELICATE MATTER" , Tue 15 Aug 16:23

My dad and his ex-girlfriend bought a house in LA back in late '70s. Seperated in early '80s and brother took over. Has lived there since '85 and has used as if he owned it. Maintained, paid all PITI and misc expenses. Dad would quit claim but has IRS lien and ex won't allow anything short of him quit claim to her. She lives in NY and not much chance of her ever getting back to LA. Brother needs to upgrade home and would need to take posession so as to get rehab loan. Needs everything. Property value is aprox $350,000. Lots of equity. How can brother take over this house without owners getting in way?

Mark(Vegas)

Replies:

dealmaker
Moderator

32.102.65.74

"Deed must be transferred.." , Tue 15 Aug 17:08

What type of ownership does your dad have in this property?

Joint-tenancy, Tenants in Common, etc..

First check the deed and see who is actually on the deed. In some strange cases, I've seen two individuals on the mortgage and only ONE the individuals actually own the property.

Do not take anyone's word for ownership; check the deed. If your dad is the only one on the deed, he can do as he sees fit.

Get back with me regarding how the title is held.

Dealmaker

Mark(Vegas)

24.234.133.250

"Re(1):Deed must be transferred.." , Tue 15 Aug 18:22

Thank you for your input. I will have my brother check and see exactly how the title is listed.

Mark(Vegas)