Asked by Barbara, San Francisco, CA • Fri May 30, 2008
for four years in the public school system in the San Francisco Bay Area and have never bought any property. I recently came into an inheritance of one fifth of a triplex assessed at a little over one million dollars. There is the option to receive monthly rental payments or liquidate. The other owners favor receiving monthly payments, but I'm concerned that if I do, I can not longer claim first time owner status. My question is this: Would I be considered an owner, and lose my first time owner status whether or not I receive payments or liquidate?
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