What kinds of things are you looking for from an attorney? Transactional advice? Landlord/tenant law? Eviction? Tax advice? Depending on what you're looking for, it may be a different kind of attorney.
What kinds of things are you looking for from an attorney? Transactional advice? Landlord/tenant law? Eviction? Tax advice? Depending on what you're looking for, it may be a different kind of attorney.
Not sure what you're looking for in regards to the tenant in common deed but you'll probably want an estate planner then or a transactional real estate attorney. You'll also want to be sure the person you're talking to is familiar with taxation if you're looking at doing any sort of buy out or transfer of the property between the tenants. This becomes particularly important for property tax purposes due to Prop 13 in California, especially if you're dealing with related parties. Hourly bill rates for attorneys vary of course, but you should expect something in the range of $225-500 per hour for consultation. Shoot me a PM if you want referrals for San Diego. I know a couple attorneys up in L.A. that might be able to help, but some specifically only service high net worth individuals, so will need some more information.
*This post does not create an attorney-client or CPA-client relationship. Readers are advised to seek professional advice.
Investor · Los Angeles, CA · Member since 2016 · 5 posts · 0 votes
7y
Thanks for the response and the information. I think I have the deed issue figured out. This particular
deed, tenants-in-common, for a four unit property held by two owners, specifies ownership of two units for one and two for the other. Based on my research, it looks as if the property cannot be divided that way under TIC. Just 50% ownership for each.