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Tenant in common
Guest
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 Posted: Sat Aug 15, 2009 1:36 pm Post subject: Tenancy in common florida |
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if one of he TIC lives in the residence, but owns a lesser percent (33%) than the non-resident TIC. Would the payment of condo fees be based on the percentage owned or being a resident TIC thus having a greater financial responsibility?
thank you
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 smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Sun Aug 16, 2009 9:06 pm Post subject: |
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Hi Guest!
Welcome to forums!
Both the tenants in common should divide the condo fees amongst themselves and pay it off. I don't think the division of condo fees would depend upon the percentage owned or being a resident tenant in common.
Feel free to ask if you've further queries.
Sussane |
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Jack Durie
Guest
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| Posted: Mon Aug 31, 2009 12:27 pm Post subject: ownership rights upon sale |
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| I have joint ownership rights (tenacy in common) in a house that was sold. Would each of us only be entitled to the amount we ecah contributed to the purchase of the home?? Would the person residing in teh home be responsible fro the property taxes? |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Mon Aug 31, 2009 10:28 pm Post subject: |
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Hi Jack,
As far as I can understand, you would be entitled to the half of the sale price of the property. As far as the property taxes are concerned, the owners of the property would be responsible for it. The non-resident owner of the property can also share the property taxes with the person residing in the property.
Thanks |
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