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Specifically in regards to taxes, maintenance, insurance, etc. Home owned by 2 brothers – 1 lives in home, 1 does not.
Asked on September 19, 2011 under Real Estate Law, Maryland
Answered 13 years ago | Contributor
You as joint owners of the property or as tenants in common have equal rights and equal responsibilities from the start of the matter. What you and your brother choose to agree on from there is your business. In other words, if you do not have an agreement as to the issues that you name here - taxes, maintenance, insurance - then you are still equally responsible. Equitably may be another story. You two need to come to an agreement and if you can not then you need to rent the house to some one else and split the funds. The agreement must be in writing and signed by the party living in the house. Good luck.
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