Expert: Ray Beggs - 10/15/2007

Question
I and my 2 brothers are joint owners of a Santa Barbara, California house. I wish to give my portion of the house to one of my brothers, but they wish to keep me on the title since I and my other brother are in the will to receive the house if the other brother dies.  My question is: when we sell the house, is it paid in equil shares to all who are listed on the title, or can the owners specify which owner get what percantage of the sale?

Answer
You can talk to an escrow company now and ask them which is the best way to do this. It may be converting it to a tenants in common is better then joint tenants or joint tenants may work for you. Check with a local escrow company.

Best of luck,

Ray