partner refuses to sell in joint ownership

What is the name of your state? California

I own a home with my girlfriend:

- the original loan was in her name and she paid the down payment
- we re-financed and the new loan is in both of our names now
- both of our names are on the deed/title

She doesn't want to sell and I do.

What recourse do I have if any?

Thank you.

[divgradcurl]

1. Get her to refinance the house in her own name and buy you out;
2. Go to court and file for a partition sale.

The house is worth more than you owe on the mortgage, right?

Problems:

- we ran a home based business together. All monies coming in were deposited into our joint account. The figures for that were what we used to get our refi because we borrowed more based on the increased value of the house. Since there have been no regular monies deposited into her individual account she doesn't think she will qualify for a loan on her own. She wants to re-direct the deposits for our business to come into her account for a year and then use those figures to get a loan and buy me out.

- the house is worth more than our mortgage. However, if you do the math:

Jan 04 valuation of house - mortgage - costs of selling= gross profit

gross profit - her costs (down payment, first year ins. and prop. tax, reno costs)= a net zero for both of us.

If the house has increased in value at the same rate that it did for the two years previous to Jan 04 then we might have a net of fifteen grand.

If she can walk away from this with a gross of forty-grand I question why she can't use that to get a new, smaller place, make a down payment, get a loan at a higher rate for the short term, develop a bank record of deposits and then refi herself for a lower rate in the future?!

More problems:

- interest rates are on the rise. What will the market bare now? Maybe I should get another valuation.
- I can no longer afford my half of the mortgage. I've moved out of the country (medical reasons) and am trying to solve this problem long distance. I've told her to rent out two of our spare rooms to cover the mortgage and bills. However, she is no longer replying to my emails and I don't know what she is doing. She stands to lose more than me if the bank forecloses, although if it does and the house is sold for less than expected I could end up owing money I don't have.

For various reasons my career has taken a nose dive and a lot of old debt I have on my credit cards is threatening to sink me. I'm on the verge hopefully of gaining good employment but the timing is critical.

I'm wondering about the pros/cons of bankruptcy at this point.

My father is an ex-lawyer who could take power of attorney for me but he is a royal pain in the butt and not prone to impartial advice.

Sorry for the life-exposé here but I am desperate for some good advice.

Thanks for your time and patience.

[divgradcurl]

Well, nobody here can tell you what to do -- we just don't have all of the facts. But here is a couple of points to consider:

gross profit - her costs (down payment, first year ins. and prop. tax, reno costs)= a net zero for both of us.

She can get "reimbursed" for the down payment and improvements to the house, but costs like insurance, property taxes, interest on the mortgage and repairs are NOT reimbursed. So, if the renovations were repairs, and not "new" stuff (improvements), then she cannot seek reimbursement. So, the net profit = gross profit - down payment and improvements, you get half of the net profit. If you sell.

As long as your name remains on the mortgage, you are responsible for the mortgage -- if eithe rof you don't pay, you BOTH take a hit on your credit, and if anything bad happens down the line, like forclsoure, you are BOTH on the hook for any deficiency judgments that may arise.

You can have the court order a sale of the house, where you go your way and she goes hers. Or you can continue the way you are going and work with her. Its up to you.

[HomeGuru]

[quote=ubtheboss]Problems:


My father is an ex-lawyer who could take power of attorney for me but he is a royal pain in the butt and not prone to impartial advice.

**A: some ex-lawyer.