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Property Rights: Ownership Rights versus Right to Rental Incorme

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garret

Junior Member
I'm a licensed general contractor in Los Angeles, California. I built a 7,000 sf luxury home on a property owned by my in-laws and split the construction cost with them. It cost us half the going rate for this type of construction because I not only worked as a general contractor, but as designer/architect, sub-contractor (for most of the work) and laborer (for a great deal of the work). The agreement was that we would rent out the home and I would collect all the rent though they would retain legal ownership of the property. My wife and I and my in-laws all signed the document, though it was not notarized. What legal rights does this give me if they decide to sell the house or if my wife and I get divorced?
 


acmb05

Senior Member
garret said:
I'm a licensed general contractor in Los Angeles, California. I built a 7,000 sf luxury home on a property owned by my in-laws and split the construction cost with them. It cost us half the going rate for this type of construction because I not only worked as a general contractor, but as designer/architect, sub-contractor (for most of the work) and laborer (for a great deal of the work). The agreement was that we would rent out the home and I would collect all the rent though they would retain legal ownership of the property. My wife and I and my in-laws all signed the document, though it was not notarized. What legal rights does this give me if they decide to sell the house or if my wife and I get divorced?
It would give you almost as much right as I would have to drive around town firing a weapon out my car window. Fact is you are not listed as the owner or even a part owner and they can do with it as they please.
 

lwpat

Senior Member
Take the "document" to an attorney and ask him your question. Everything depends on state law and the exact wording.
 

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