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Questions Answered by Stephen V. "Steve" Davis
2 Answers | Asked in Real Estate Law and Tax Law for Texas on
Q: Selling an investment home, how do I show profits are going to business partner when title is in my name?

I am financing an investment property in Texas that will be sold when it is finished making it a short term capital gains. The business partner I am working with is the person doing all the rehab and will be taking the lions share of the profit however I wanted to be the person on title because I... Read more »

Stephen V.
Stephen V. "Steve" Davis answered on Jun 5, 2019

To keep the record straight and closing you should have the title company issue Separate Checks to each of you and make sure on the HUD-1 that there are line items for each of you. That would be proof of any outcome of a written agreement between you and your Co investor

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