<prompt> Human: I have 2 brothers and myself all adults. One is married, the other engaged, and me single. Along with Mom and Dad there are now 5 people on the deed. Dad just recently retired and mom isnt doing so well in the mental department. The last of the principal is due to be paid off by the end of this year.My dad figured this was the best way to proactively protect the property in the event of his passing as Mom may not have the best mental stability to make the correct financial decisions. The married brother is listed as his sole and separate property, The engaged brother and I are listed as single men, together with our parents were all joint tenants and this is considered a gift in California. Im the only one that lives with my parents, I dont pay rent but I make an additional mortgage payment along side my Fathers payment every month.We all signed the paperwork without much thought, but then occurred to me that I didnt think of the potential liabilities, the situations in which property maybe liened or forced to be sold if a legal situation arises in my or my brothers personal lives. Im sure a living trust would have been the best thing for this situation, I advised my Father with this, but he wanted to go this route.I personally have a general liability insurance for my personal business, what other protections should I or my brothers consider.Can I start claiming my contributions, improvements, mortgage payments, to the property on my taxes?Sorry for the long rambling post, Thanks for reading.  <response>: Specifically to the tax question, you can only claim what you actually pay and you cant double dip on interesttaxes. For example, each member of your family cannot claim the full amount of taxesinterest. I would urge your dad to revisit this with someone qualified in estate planning. The property is too large of an asset to risk. In the likely event your parents do not pass away at the same time, having all of your siblings on title will impede the ability to liquidate the property. For example, if your dad passes away and your mom needs long term care, it might be best to sell the property to afford her the care she needs. In this scenario, youll have to get each of the deed holders to sign and they are each legally entitled to a portion of the proceeds. This potentially makes for an adversarial relationship, rather than creating a situation where it is clear that the proceeds should go to your mother for her use and benefit. 