Columbus, GA asked in Real Estate Law and Probate for Florida

Q: I have a friend who has a home in Florida. The warranty deed reads 5% her name and 95% other party's name.

They are tenancy in common. The 95% owner now wants the money she invested and asking the 5% owner to sign a phony rental agreement and asking to sell property to her husband. Obviously, taking the 5% ownership away and now becoming a renter. the 5% owner is trying to qualify for her own loan; however there is some type of urgency for her to sign and they have their money by January. The 95% has other properties and not disclosing any information. What can the 5% owner do to protect herself and stay in the house?

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1 Lawyer Answer
Mr. Long H. Duong
Mr. Long H. Duong
Answered
  • Probate Lawyer
  • Gainesville, FL
  • Licensed in Florida

A: The 95% owner cannot force the 5% owner to sign a rental agreement. Furthermore, signing such an agreement does not remove the 5% from the 5% owner. I'm not a mortgage expert so I can't comment on how the 5% owner is going to take out a loan with such a small stake in the property.

Also, it's not clear how the 95% owner's other properties are relevant.

5% owner cannot be removed from home unless 95% owner takes him/her to court in a partition action wherein the judge is forced to make them both sell the property, split their money and go separate ways.

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