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Sharing home ownership

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Josh | 22 Nov 2012, 09:35 AM Agree 0
Two years ago I bought an Investment property with my sister 50/50. I have been working in a mining town and she has been renting the other half while owning half. I am now moving back to the area of the house and want to live in my half. How much notice do I have to give her? There is no rental lease or written agreement.
  • Eos Property | 22 Nov 2012, 01:01 PM Agree 0
    Be an interesting tax audit situation for your sister. No need to over-complicate this one - ring her and say coming home and will be moving in. Make sure my room is clear.
  • Eos Property | 22 Nov 2012, 01:13 PM Agree 0
    I might add - joint ownership of a property as per your example will hold you back if you intend to build a property portfolio into the future. Relatively simple actions like releasing equity, refinancing et al become more difficult in situations like yours. Might be a good time to go your separate ways as far as property ownership is concerned.
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