QUESTION
In CA, is it legal for one co-owner on title to charge rent to the other co-owner who lives at the property?
Asked on Jun 10th, 2013 on Estate Planning - Michigan
8 ANSWERS
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Yes, it is legal, if you are a co owner out of possession.
Answered on Jun 11th, 2013 at 10:08 PM
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Sure, the other cotenant only has a right to ? the house not the whole house. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.
Answered on Jun 11th, 2013 at 10:08 PM
Admiralty / Maritime Attorney serving Monrovia, CA
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The Law Office of Nathan Wagner
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That is perfectly legal and quite common, assuming that the co-owner who is charging rent does not also live at the property.
Answered on Jun 11th, 2013 at 10:08 PM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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If the parties agree to that, why not? If my brother and I own a $600K condo and he lives there, why should he pay me for my half? What if, instead of having one $600K condo, we had two $300K condos? Why should he occupy both, for free?
Answered on Jun 11th, 2013 at 10:07 PM
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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I don't know if it is illegal. If the one collecting the rent is paying expenses of the property from the other, it would be fair.
Answered on Jun 11th, 2013 at 10:07 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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The parties can agree on how this should be handled. Typically, however, an owner is not responsible for rent. They also need to figure out who is going to pay taxes, insurance and utilities.
Answered on Jun 11th, 2013 at 10:07 PM
Business Transactions Attorney serving Glendale, CA
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Richard E. Blasco, Inc.
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A co-tenant can raise the rent on the property for its use. The real issue however is: Is the co-tenant in possession paying fair rental value; who is paying the taxes, maintenance and utilities, and does the co-tenant in possession have a long term lease that would fix the rent payable. My best advice is to call an experienced lawyer in California in the county in which the property is located. An experienced real estate attorney would need to have more accounting facts than are set forth in your question, before he could suggest a solution to your problem.
Answered on Jun 11th, 2013 at 11:40 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Yes, that in fact would be common and fair.
Answered on Jun 11th, 2013 at 11:39 AM