I am looking for help regarding a house that I am 1/7th owner. Both of my parents are deceased, and I now share ownership in their house with my three brothers and three sisters. The house was never in great shape and has deteriorated further since my dad passed 8 years ago. I have a brother and sister who live there, who work intermittently at best, but are mostly unemployed. They don't pay any rent because they never have money. There is no mortgage on the house but of course there are taxes due every few months. Another problem is that the house is in such poor shape that it is not insured. I believe that if the city ever inspected the inside, it would be condemned. I have offered to buy the house, but the brother who lives there wants more than it is worth in its current state. I do not want to invest money into repairs since I do not own the house outright. Also, Neither I or my other siblings want to force my unemployed brother and sister out of the house because we do not want them to be homeless.
However, I do not want to continue paying the taxes on the house. I am worried that if the taxes are not paid, the city will get a judgment against me and garnish my wages. Also, since there is no homeowner's insurance, I am worried that if a visitor to the house is injured, I can be sued. My question is how I can have my name removed from the title so that I am not liable for the taxes or a lawsuit while still retaining my rights to 1/7th of any proceeds to the house when and if it is sold. I spoke to a real estate lawyer, but she could not offer me any solutions.
