Posted by William Bronchick on December 04, 2007 at 10:19:24:
Co-owners are “tenants in common” which means they are all responsible for the property equally when it comes to liability. When it comes to forking up money for negative cash flow, it depends on the agreement you had, but by default it would be a partnership in equal proportion to the money you put up. Partnerships like this should be spelled out in writing to avoid any such confusion.