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'Jerry Maguire' Kid to Parents: Bow to Your Landlord!

6/13/2011 2:00 AM PDT BY TMZ STAFF

Jonathan Lipnicki -- the kid from "Jerry Maguire" -- recently put a roof over his parents' heads, but it's no gift ... they have to pay him back every single penny ... WITH INTEREST.

0610_Jonathan_Lipnicki_TMZ_EX
Seems Lipnicki saved up the residual checks he gets from "JM" and whatever else he's done in the past 15 years and helped his parents score a home in Westlake Village ... about 30 miles outside Hollywood. 

According to court docs, Lipnicki forked over $216,222.35 for the pad -- but under the terms of the deal ... they must repay the full amount  ... PLUS 5% interest.

Wonder if their next door neighbor has three rabbits?

 

41 COMMENTS

No Avatar
31.

adopt    

cyn: I was thinking the same thing! $216,222.35 can buy you a trailer in a senior community in Westlake Village if you are lucky!

1175 days ago
32.

Jano    

HAHAHAAA I live in Westlake Village and was thinking the same thing!! You can't buy a cardboard box under the freeway for $216,000 here...
To the story though...whats wrong with him asking his parents for the money back?? He earned it didn't he? My parents "Loaned" my hubby and I $1000 for the down on our first house ( LOOONG time ago) and made us pay them back HALF the profit on the house...my dad laughed all the way to the bank. Irony???Now I fully support my mom...there is no justice...

1175 days ago
33.

Anonymous    

I don't know whether or not this story is true, but IF it is, that's a pretty rotten thing to do to your own PARENTS, kid. These people raised you, clothed you, fed you, loved you, and supported you so you could become a famous actor and make this fortune which you are now holding over their heads.

Having said that, however, I don't think you should have to buy anyone a house--it's good that your parents paying you back--but charging them INTEREST would just be mean, selfish, and greedy. Family ties should be more important than money. I sincerely hope that this story is not true or that the parents are the ones who wanted it this way.

1175 days ago
34.

Carl    

You can't buy anything in Westlake Village for 216K. That is one of the higher end locations in the LA area, on par with Beverly Hills or Calabasas. That was probably a down payment or something like that.

1175 days ago
35.

Warren    

Here is how TMZ works. They take a non-issue story, paste a picture and headline on it and sell advertising as you read this nonsense. Plus the article hangs at the top of the page if there is a "homophobia" twist to the story because you are evil if you are straight.

Basically, this kid wants to help his parents out. If he does the right thing and buys them a house he creates a taxable event and the parents have to pay over $50,000 in federal taxes and another $15,000 to the state because the house is considered “income” to the parents.

The contract changes the “income” into a “loan” eliminating the tax. The interest is 5% because this is reasonable in the eyes of the IRS. Not to mention that Lipnicki now has to pay income tax on the interest he collects from his parents.

In short, our government punishes people trying to help people out by taxing a helping hand. This is what you get if you vote “D” or “R”. Vote “I” and we will all be able to help people in need without the government getting a cut.

1175 days ago
36.

brenda    

"and whatever else he's done for the past the 15 years"... And what has that been?

How ungrateful of him to think he is so high and mighty to do this to his parents. Boy... you're nothing. You don't even have a name for yourself in Hollywood! Everyone just knows you as the big-headed kid from Jerry Maguire.

1175 days ago
37.

Robert    

don't you all get it?? if the house was a gift his parents would have to pay taxes on it but if it's a loan they don't have to pay. I'll bet the payment plan is when ever you guys have it. *wink winK*

1175 days ago
38.

.    

5% INTEREST ??

That's higher than typical mortgage lender's.

If you're not going to give your parent's a "Gift" (Buying them a house) then at least give them a "Deal" (No or Low Interest rate).

.

1175 days ago
39.

.    

@Robert

Excellent idea!

I never considered the Gift Tax Penalty.

.

1175 days ago
40.

demoncat    

actually i do not see any thing wrong with what John is doing for he bought the house his parents are living there he is just doing what a land lord would do if they rented from some one else. he is charging them what he should consider rent. for no doubt if the roles were reverse and John was living in the house that they bought he would be charged some rent. to help with expensives

1174 days ago
41.

Kaveman    

WOW! What a PUKE! I dream of the day I can pay back my parents for everything they have done. If I could afford to buy them a pad, the thought of them paying me back would never even enter my mind. Ungrateful bastard.

1151 days ago
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