Q: I own 20% of a home in florida...am I responsible of only 20% of the property taxes? the 80% owner says I owe half.
A: Well that depends. Did you and other owner(s) have an agreement when you bought the place and it was determined that your percentage was 20% of the ownership interest as to how to divide other expenses or attributes of ownership of the property. Partnerships can be someone complicated and even though you contribution to acquiring the property was only 20% other attributes can be agreed to be divided on other than the percentage attributable to ownership interest. You and the other owner(s) should probably enter into an agreement regarding these matters, if not already done, and include what happens if one of you wants to sell an interest. You should definitely see and attorney to talk to about protecting just your interests here.
Bruce Alexander Minnick agrees with this answer
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