- April 9, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Seeking Legal Advice on Property Ownership Issue
Dear Sir/Madam,
I am in need of professional advice regarding a complex situation involving property ownership. Last year in July, my ex-boyfriend and I jointly purchased a house. Unfortunately, our relationship came to an end in December, and since mid-January, he has not contributed financially towards the property or resided in it.
In addition to dealing with this breakup, I have faced a severe health issue which forced me to take time off work starting from late December. However, I am now preparing to return to work this month.
Despite these challenges, I have managed to keep up with all mortgage payments thanks to the rental income generated after my ex-boyfriend’s departure. I covered the majority of the initial expenses for the house, including the down payment, while he only contributed towards half of the mortgage payments until February (totaling less than 4k) and half of the house inspection fees.
Now, the situation has become more complicated as my ex-boyfriend is demanding repayment of the mortgage contributions he made, even though he currently owes me 10k and my mother 17k for other unrelated matters. I have written confirmation from him stating that he has no intention of claiming ownership of the house and would rather declare bankruptcy than pay me any further funds towards the property.
Despite this assurance, I am concerned that if I proceed with removing him from the mortgage, he may retaliate by attempting to claim half of the property’s value or jeopardize my ownership rights. I invested heavily in this property and selling it now would leave me in a financial loss.
I am seeking guidance on the legal steps I can take to remove him from the mortgage and secure sole ownership of the house without risking potential legal consequences. Furthermore, I would like clarification on whether I would be required to pay him any portion of the profits if I were to sell the property in the future.
In this challenging situation, I believe that the AI Legalese Decoder can provide invaluable assistance by analyzing the legal implications of the documented evidence I possess and offering tailored advice on safeguarding my rights as a property owner. By leveraging its expertise in deciphering legal jargon and interpreting complex contract terms, the AI Legalese Decoder can help me navigate this intricate legal landscape with confidence and clarity.
Thank you for your attention to my request for guidance in this matter. Your expertise and support are greatly appreciated.
Sincerely,
[Your Name]
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What is his interest in the property itself? I think that’s the more important question here. The names on the mortgage don’t mean much in terms of equity and ownership.
I would talk to a family law lawyer – often time courts have a free lawyer you can consult with.
It depends on jurisdiction, but you could structure the deal with him as you will forgive the $27,000 he owes you (you are unlikely to ever see it) for a quit claim. I think in this case you just have to be more tenacious than him, he was clearly looking out for a bit of a payday.
You either:
A) tell him that you’ll give him the 4k back in exchange for an agreement that his interest in the property is transferred to you; or
B) instead of paying him 4k you’ll deduct that amount from the other money he owes you, in exchange for the same thing as above.
But given his comment that he doesn’t want to pay you another cent, I’m not sure B is likely to work.
In either scenario, you’ll need a real estate solicitor to draft the paperwork.
Good luck.
You seem focused on the equity in the house and his claims, however I think your bigger concern is will a bank approve you to take over the house with your income?
Honestly doesn’t sound like it, sick off work since December, tenants are cool but banks are not going to remove someone else that they can go after for the debts unless you refinance it at current rates.
If you are both on the title and the mortgage, to get him off it, you will have to buy him out.
This will likely also involve breaking the current term and you will have to qualify for the mortgage on your own.
Depending on the type of loan you have you maybe able to do an assumption to release him from liability on the mortgage. Do not do this without a simultaneous quit claim deed from him. Call the Servicer that is collecting your mortgage payments and ask them what the process is for this to happen.
Reddit can’t help you. You need an estate lawyer.
Why do you say he “abandoned” the house? He may have vacated, and not paid things, but that’s different.
Go to your lender and see if you qualify for the mtg on your own. You said you have a tenant – If you don’t have a formal lease agreement, get one. Only a portion of the rent can be used as income in a mtg application but you will need evidence that there is a lease in place.
The more info you have before you talk to your lawyer the better. Qualifying for the mtg is a big variable here – if you don’t qualify then you have a problem.
If he owns half the house then unless he willingly sign away his interest then he owns half the house. You can’t take it away from him. You can pursue him for payment owed if there was an agreement in place. You might consider buying his share.