FACT SCENARIO/QUESTION SET #2:

Fact Scenario: Sisters Bianca and Jade co-own a large luxury single family residence in the Doheny Estates area of Los Angeles, with their father, Mick. These three family members hold title to this property as joint tenants with right of survivorship.

Bianca and Jade have embarked on a two-year charitable missionary commitment to the most remote regions of Nepal (No phone, no lights, no motor cars not a single luxury), leaving Mick in sole possession of the Doheny Estates property.

Because Micks lavish lifestyle has caused him to run short on cash, Mick has been renting out his Doheny Estates property on a short-term basis through Internet rental services (such as AirBnB and VRBO) during Bianca and Jades long absence.

Intelligent and well-educated (a graduate of the prestigious London School of Economics), Mick has profited handsomely some $1,200,000 by renting the property for short-term stays by celebrities, for lavish parties, and for business events all to the detriment of the property, which has suffered damage/loss/theft to dwelling, landscaping, and furnishings amounting to $600,000.

Having completed their charity work, Bianca and Jade return to the Doheny Estates property, find it in a rundown condition, and confront Mick demanding payment of their shares of the rental income he had collected, plus substantial money for rehabilitation of the property.

Question Set: (1) Does Mick have to share the rental income he collected from short-term rentals of his Doheny Estates property with Bianca and/or Jade? If so, how much? If not, why not? Answer fully by stating an amount of money and identifying the legal basis/explanation for your conclusion.

(2) Does Mick owe any money for rehabilitation of the Doheny Estates property, based on the damage and loss caused by the short-term rentals? If so, how much? If not, why not? Answer fully by stating an amount of money and identifying the legal basis/explanation for your conclusion.