My question involves real estate located in the State of: California
Two people are gifted a property as tenants in common. No other direction or instruction within the text as to who pays what.
In such a situation does the document default to existing california tenancy law re who pays what? I read on the internet that each party is responsible for taxes, insurance and major expenses up the the precentage interest they each have in the property. However, I cannot find the law or statute that clearly spells out financial responsibility tenants in common for California only references to it. Can anyone help?
Thanks!
Two people are gifted a property as tenants in common. No other direction or instruction within the text as to who pays what.
In such a situation does the document default to existing california tenancy law re who pays what? I read on the internet that each party is responsible for taxes, insurance and major expenses up the the precentage interest they each have in the property. However, I cannot find the law or statute that clearly spells out financial responsibility tenants in common for California only references to it. Can anyone help?
Thanks!
Tenants in Common
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