Taxes in Co-ownership Archives

The Los Angeles Mansion Tax Fractional Interest Loophole

Los Angeles’ controversial “mansion tax,” officially known as Measure ULA, has created substantial confusion for co-owners, buyers of a fractional interest, investors, and parties involved in partition actions. One recurring question is whether the tax applies when only a fractional interest in real property is transferred rather than the entire property. The answer is: generally, … Read More

Co-Owner Can’t Force You to Pay Their Capital Gains Tax in a Partition Sale

Among the more creative arguments in partition action cases is the idea that one co-owner should pay the capital gains taxes of the other co-owner. When co-owned property is sold, especially in a partition action, disputes often arise over who gets what, known as a partition accounting. Usually, these claims about accounting relate to unequal … Read More

Taxes Every California Real Estate Owner Should Understand

Owning real estate in California can create significant financial opportunity — and significant tax complexity. Whether the property is a residence, rental, inherited asset, or co-owned investment, multiple layers of taxes may apply at different stages of co-ownership. For co-owners in particular, taxes often become critically important when a dispute arises, a buyout is negotiated, … Read More

My Co-owner is Not Paying the Property Taxes

It’s not uncommon for one co-owner to bear the brunt of property taxes, especially in scenarios where one co-owner resides on the property while others do not. An issue arises when this arrangement leads to a disparity in financial contributions for maintenance and obligations tied to the property. Implications of Financial Distress The failure of … Read More

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