Comments on: Real Estate Partnership Questions

By: Nathan Belaire

Nathan Belaire — Mon, 28 Nov 2011 21:59:37 +0000

Hi,

My sister and her friend bought a townhouse together 10 years ago. She now want to take her share out, but her friend and his wife don’t want to pay for the shares, neither selling the house. They want to stay there and pay her the monthly cash flow after expenses.

1. Can she force them to sell the house or pay off her share to completely own the house?
2. She is so tired of dealing with them, so can she give her ownership/partnership to me?
What is the advantage and disadvantage on transfer the deed to me?

Thanks

Nathan

By: Denton

Denton — Wed, 30 Mar 2011 07:25:36 +0000

I live in Texas. We have anew real estate investing partnership. The mortgage company insists that I be the holder of the mortgage, not the general partnership. How do we transfer the property (deed?) to the partnership?

By: dianne

dianne — Thu, 12 Aug 2010 16:25:29 +0000

A partner and I bought 2 properties (rentals) – I got the loans he put in about 85% of the downs/closing costs. Years later I owe for repairs/vacancies and he wants me to transfer my 50% on the titles to him, and he will forgive my debt. The agreement was to buy and hold, and sell for profit later. If I give him my half, and erase the $25,000. debt – is there any way of figuring out if I should fairly get a % of the profits assuming there are some? ie., how can one put a value on my getting the loans (he didn’t qualify) and keeping the loans. He cannot re-fi now but will at soonest opportunity and then he will have the loans. There is no ill will here, but realtors and investors I’ve spoken to don’t know how to put a monetary value on me having used my good credit to get these rental homes.

By: cedric fergus

cedric fergus — Fri, 23 Jul 2010 18:00:30 +0000

I looking at a real estate partnership for 4 units and two commerical rentals. Do I get a pick of the income(net) , profits(cash flow) and ownership. Is it in portion of my investment like buying 10 percent of the property means 10 percent of the net income, cash flow before taxes and property. Or is everything negotiated? Cedric Fergus

By: Kelly

Kelly — Fri, 23 Apr 2010 18:16:53 +0000

I just want to add for anyone that might be researching wether or not it is a good idea to go into any kind of partnership with anyone other than their spouse, that I am here because I am looking into it too late, and we havn’t even purchased the property, we simply started the process. Now we are faced with the damage of an amazing growing friendship, the loss is so much greater than the gain, no matter how great the investment might seem. Even if you think you are doing to invest in each others lives. If you love and care for the people that you are thinking about partnering with…..Don’t do it!!

By: Geo0319

Geo0319 — Sat, 19 Dec 2009 08:12:21 +0000

My 2 brothers and I inherited property from our parents. One brother lives on the property and wants to pay all expenses (property tax, insurance, repairs, maintenance). Will this eventually give him claim to the property? Will it give him claim to the property even if we draw up a business contract and even if our names are on the deed?

By: Brad

Brad — Mon, 07 Dec 2009 23:59:03 +0000

HI,

I am part of a real estate investment group that has just bought a property. Three of our members are our executive and have done a lot of work in reserach and getting all the paper work done. It is important to compensate them for this work, but at the same time not eat away too much at the equity and profits we are trying to make. Is there a formula for this? Thanks

By: Fonic

Fonic — Fri, 21 Aug 2009 10:30:54 +0000

I bought a condo with 2 friends. Everything went very well and we did not even make a contract..

By: Eve Venters

Eve Venters — Sun, 09 Aug 2009 21:18:46 +0000

My husband and I are half owners of a beach home with my sister and her husband. It has been the worse nightmare of our life. We have had all the responsibilities of this second home thrown on us. Our Partners will not lift a finger to do anything. We have been threatned physical harm. Damages have been done to the property. Threats have been made to throw our renters out. We have lost income due to the unpredictable situation. They take our scheduled time on the calendar and tell us they will kick us or our renters out. when it is not even their calendar time.I am in serious need to find out what legal action can be taken against our partners.My family has been harrassed to the point that no one in our home sleeps anymore. If anyone has any suggestions, please let me know. My husband and I brought in a third party to mediate the situation. But after dealing with this situation I think it will take some one in authority to get this issue straight. Please advise if anyone knows of any web site that I can go to that might give me information on case law opinions.

Thanks

By: Vanessa

Vanessa — Wed, 03 Jun 2009 10:46:10 +0000

If you have other opportunities, do not try to purchase rental property with your friends or family.

By: arleen wolf

arleen wolf — Fri, 29 May 2009 20:34:11 +0000

My stepson through illigal means became my partner in a vacation home in the Poconos & gives it to his friends to use. What is my right as an owner?

By: Amanda

Amanda — Sat, 23 May 2009 01:33:02 +0000

My aunt owns a house with her brother in law in brooklyn,ny. She would like to sell it and buy a new home for herself and kids. however, Her brother in law doesn’t want to sell. Can she take her share legally and still get a fair amount without selling the home?