Los Angeles, CA asked in Real Estate Law for California

Q: Whats the easiest way to buy a reltive out from their percentage on a property

I want to buy out 25% of a relatives intrest in a family owned proprty for a set amount. Need to know the quickest way to do this.

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1 Lawyer Answer
John T. Kontrabecki
John T. Kontrabecki
  • San Francisco, CA
  • Licensed in California

A: Make a cash offer. Open escrow with a title company if the offer is accepted. Ask the title company to prepare a quitclaim deed from the family member transferring the title to you. Ask the family member to sign the deed and deposit the deed into escrow. Deposit the cash into escrow. The title company will record the deed first and then release the funds to your relative.

Jackie Marie Howard and Randy Bryan Ligh agree with this answer

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