Co-owner of the house wants to sell.

[olegkap]

What is the name of your state? NC

Hi,

Me and my ex-girlfriend own a house, we bought it together however mortgage on her name and title on our names. I put my own money as down payment and made all payments for over a year, she however paid for food only during this time.

We got separated and I want either to sell this house or get my money back.
My questions are:
1. What happens if one co-owner wants to sell the house and another dont? How the looks at this cases?
2. If I`ll wait until she sells the house what amount I can ask to get back? My down payment, some percentage of the profit?
3. What if she decides to sell it without profit?
4. What other problems can I have but not solving this issue right now and wait some time?

Thanks,
Oleg

[lcannister]

Looks like she was the fool in all this by putting the deed in both your names and yet she is the only one responsible for the mortgage. Sweet deal you got there!

Do you know that if you could/did sell the house there would even be a profit after all expenses were paid?

If things are as you state you can walk away right now with absolutely no responsibility to pay another dime on the mortgage and they go after her not you. (Barring any contract you two have concerning this issue.)

If she does not want to sell it move on and then when she does you negotiate the fact that she will need YOUR signature to do so and ask for your share of the funds from such a sell.

DO NOT UNDER ANY CIRCUMSTANCES SIGN A QUIT CLAIM OR ANY other papers for her without an Atty viewing them. Again SIGN NOTHING!

[olegkap]

Thanks,

Yea, thats what I am planing to do. I will not sign anything until I got my money back.

One more question, If she doesnt have a profit when she sells the house I still can ask for money that I put down and probably more? Correct?

Is there any law that she can use to remove me from the deeds?

Thanks,
Oleg

[Ohiogal]

Originally Posted by olegkap

Thanks,

Yea, thats what I am planing to do. I will not sign anything until I got my money back.

One more question, If she doesnt have a profit when she sells the house I still can ask for money that I put down and probably more? Correct?

Is there any law that she can use to remove me from the deeds?

Thanks,
Oleg

There is no guarantee you will get any money back if the house is sold only for what it is owed. However as joint owner you don't have to agree to sell the house for any price. HOwever a court can order a partition sale -- that takes a while and money though.