I own property w/ 6 others. If I paid the prop. taxes, do I get controlling interest.?

Question

I own property with six others. No one can pay the property taxes (roughly $6000). If I paid them, do I get some kind of controlling interest. How will it be viewed by a judge or the IRS, or other lawyer involved.

Answer 1

You essentially gave a gift of about $850 each to the other 6 owners. The only way you can get controlling interest is to persuade each of them to sell their share to you.

You might try demanding each person's share of the tax and filing in Small Claims court if they refuse to pay. That might persuade them to give their share to you or it may just create a bunch of bad blood.

Answer 2

"controlling interest" is not a tax term. If you paid the property tax of $6,000 you very likely can use that as a deduction on your tax return. You would have no greater control over the property than any other of the 7 people unless those rights were granted by a contract that formed this "alliance" of property owners.