Quote:
Originally Posted by CurlyMJM My brother and I inherited the family home. 3 years ago he decided to purchase his own place on Cape Cod. It was agreed I would keep the family home and would pay him half the family homes worth through payments on his mortgage. We had a real estate agent appraise the homes worth and agreed on it. Since he hasn't worked in about 8 years he needed me to cosign in order to get a mortgage loan to purchase the property on the Cape. He made out on stock options from his last job and is living off his investments. The problem is he hasn't left my home and refuses to do so. I am a working stiff and pay all the expenses, he pays nothing. He just sits around my house all day doing nothing but angering me. Unfortunately, I was being the supportive older brother and everything was done via a gentlemen's agreement, meaning nothing is in writing. I should of had the family home signed over to me before cosigning his mortgage loan. So, his name is still on the deed. When I ask him to leave he throws that fact at me. There is also a question of his mental well being. Several medical professionals have informed me he would not pass a mental evaluation and I should consider having him committed. The stress of this situation is now taking a toll on my health. What are my options for getting this situation resolved? This seems to fall under the realm of real estate and family law. |
Ok let me see if I have this right.
You cosigned the loan and are now making payments on that house of his as payment for the half of the home you both inherited.
He is still listed as a part owner of the family home and as such has just as much right to live there as you do.
So now he is living at the family home with you and not paying anything all the while you are paying his mortgage on his Cape Cod home (and let me guess here, but I bet he is renting the Cape Cod home)
So if I have this right he is collecting rent on a home that you are making the mortgage payments on, all the while living rent free in the family home.
Sounds like you got snookered. I would suggest getting an attorney and getting something in writing with your brother.