AboutHelen P. O`Planick, EA Expertise I am a tax professional, with experience in individual taxation. I would prefer not to answer questions about non-resident aliens or corporate taxation. Please do not ask me state related questions, unless the state is Pennsylvania. There are 42 taxing states and 42 TOTALLY different sets of state tax law.
Experience I have been preparing tax returns almost all my life. I have been in professional practice for 25 years and I am enrolled to practice before the Internal Revenue Service.
Organizations National Association of Enrolled Agents
Publications I am a prior Money Magazine Tax Test taker and have been quoted extensively in all media including monthly periodicals and books by tax authorities.
Expert: Helen P. O`Planick, EA Date: 8/24/2008 Subject: parents deeded house to me and brother
Question I purchased the home my parents are living in in Florida since they could not afford it in 1994. At that time, my brother and I were on the deed to the home to my dismay. I remarried and my husband wants his name on the deed as well. My agreement with my parents were they could live other as long as they liked and were in good health. If one should be come sick and needed nursing home care, I would sell the house to pay for medical costs. I figured one day I would get my initial investment back. My husband and I are in financial straights and would like to sell the home. Can we? What are my options. My parents have paid all the taxes and upkeep on the home and feel it is wholly theirs. My brother feels it is 50/50 since his name is also on the deed. Could he take the home away from me and I lose my investment? Not sure what to do. Need advice
Answer While it is your home (you own it) so does your brother and your husband.
You don't need a tax person, you need an attorney to straighten out this mess. You can force a sale, but your brother needs to allow it, or you can only sell your portion of the house.
