Joint owners unmarried

[chelsea0652]

What is the name of your state? florida

My boyfriend and I are joint owners on the title on a house. His name is on the mortgage loan only. We split up and are not living in the home. It is for sale. He is paying the mortgage payment since I can not afford it myself .
.
He does not want to rent. I am willing to pay half mortgage, but he says no.
He is telling me that at closing I will not receive my share of monies from the house. Can he withold any monies from my half?What is the name of your state?

[pojo2]

Depends. How much money did you put into purchasing the house? How long ago? Has the house appreciated?

But most importantly (and I know this is of no benefit to you now but for others reading this contemplating the same mistakes) what does the agreement you all have drawn up by an Atty for just such events say?

Since we know none of the details of the transaction we can not give better advice that seek an Atty if there is money involved to warrant such expenses.

Oh you do have an upper hand if your name is on the deed come closing time on a sell of the property.

[HomeGuru]

Originally Posted by chelsea0652

What is the name of your state? florida

My boyfriend and I are joint owners on the title on a house. His name is on the mortgage loan only. We split up and are not living in the home. It is for sale. He is paying the mortgage payment since I can not afford it myself .
.
He does not want to rent. I am willing to pay half mortgage, but he says no.
He is telling me that at closing I will not receive my share of monies from the house. Can he withold any monies from my half?What is the name of your state?

**A: he is in for a big surprise. And your attorney will make it a bigger surprise.

[chelsea0652]

I PUT 20,000 DOWN AND HE PUT 20,000 DOWN.( 3.5 years ago)
We have no written agreement at all.
it has more than doubled in value.

Thanks for any help,

BTW: how can i buy him out since I am not on the mortgage?

Originally Posted by pojo2

Depends. How much money did you put into purchasing the house? How long ago? Has the house appreciated?

But most importantly (and I know this is of no benefit to you now but for others reading this contemplating the same mistakes) what does the agreement you all have drawn up by an Atty for just such events say?

Since we know none of the details of the transaction we can not give better advice that seek an Atty if there is money involved to warrant such expenses.

Oh you do have an upper hand if your name is on the deed come closing time on a sell of the property.

[justalayman]

Originally Posted by chelsea0652

I PUT 20,000 DOWN AND HE PUT 20,000 DOWN.( 3.5 years ago)
We have no written agreement at all.
it has more than doubled in value.

Thanks for any help,

BTW: how can i buy him out since I am not on the mortgage?

I, personally, am not going to get into the "how to slpit the money" part but realize this; the ex cannot sell the house unless one of two things happpen;
1. you agree to the deal and sign the deed at the appropriate time or;
2.the ex files for a suit to partition, in which both of you would lose some (sonetimes a lot) of the profit you are looking to realize.

Best case scenario is he gets smart and works with you so you both get your fair share.

To buy the ex out, you simply buy his share of the house equity. Unless you have enough cash to do this you would need to finance whatever is needed.
If the mortgage is assumable, you could posibly assume the mortgage and pay the ex with cash or another mortgage his share of the equity.

[juno]

The two of you need to sit down and do some math. If not both of you will loose.

Sit down and calculate how much total amount of $$ he and you put into the property. Then calculate the interest on the money he put it. Then pay him back the difference with interest.

-J

[John Se]

Mathematics is a field of study, Arithmetic is the calculation of integers