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Tax, SDIRAs & Cost Segregation

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Laura Espaillat
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Crazy Facts- Tenant in Common Issues

Laura Espaillat
Posted Jun 30 2020, 08:54

My question involves real estate located in the State of: North Carolina

P - Plaintiff
D- Deceased
DF- Defendant

Hello everyone, here are the facts:
- DF and D were in a romantic relationship. D asked DF to move in order for DF to provide companionship to D. DF does so.
- DF wants to buy a home, DF obtains bank loan to do to. D tells DF not to do that. That D will provide money in cash to pay for DFs new home. In order to do that D puts himself and DF on the deed as tenants in common. D tells DF that the home is DF's. D never lives in the home. D states that once D is dead, home will solely be DF's.
- P is D's child. P comes to D's home, does not like that DF is living with D. DF becomes uncomfortable, tells D that DF is going to live in home D purchased for DF until D can resolve problems with P.
- D dies.
- DF resides in home for 11 years.
- P now wants to petition to partition the property or have it sold.
- D contends that P does not own property because D intended for it to only be DF's.
- D contends that P has no ownership interest in property.
- P contends that they own a half interested, inherited through D's death.

What do you all think? Can D keep their home?

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