Trulia Voices Real Estate Q&A

Mike Stolte
Home Buyer
Florissant

My wife and I are investing in a rental real estate property with her sister and her husband. We intend to

Sat Apr 12 2008, 16:51 - All locations - Financing - 1 answer

share the income and expenses on a 50/50 basis. My wife and I are putting up the money for the down payment. How do we title the property so that we have a joint tenancy arrangement and preserve the interests of both parties? Can we write our own agreement, and will it be binding in a court of law? Also - how do we determine the value of the land vs. the value of the home for depreciation purposes?

Answer this question

Helpful (0)

Email Alerts

Send to a friend

Save

Report

Answers (1)

FIRST: Khazeem Asad…

Khazeem Asadull…
Real Estate Pro
Dallas

Sat Apr 12 2008, 17:00

FIRST ANSWER

You have this question posted twice..... so you should delete one of them. However, here is my answer again:

1) You may want to try a "trust".

2) You can write your own agreement and it is good in any court of competent jurisdiction. As long as all concerned parties sign it, have it notarized, and properly file it, it will be binding.

3) I'm not sure about the depreciation part....lol.

Khazeem Asadullah

Helpful (0)

Report

Didn’t you find what you are looking for? Ask a question!