<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by yujean:
My parents purchased a house for my siblings and I with a 50% down. Supposedly we pay the mortagage equally but usually the person who lives there at the time pays the mortgage. The property is in the state of Calif. My question is if my siblings ever get into lawsuit could my share of interest be sued as well? How can I protect my interest? I have heard of the living trust or partnership. Do I set it up for myself to protect my share only or do everybody set up a trust as a whole or individually? Can this be set up now after the title? <HR></BLOCKQUOTE>
My response:
Sure, your family could set up a Trust, called the "(Your Last Name) Family Trust." Then, transfer the property to that "New Owner." Get an attorney to work out the details.
IAAL
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