co ownership-title question

What is the name of your state? Florida
My ex-husband and I purchased a home together 2 years ago. Both our names are on the title to the property, however during the weeks leading up to closing an issue came up on my credit report (an old judgement) that would have delayed us. At that point we had the mortgage put through in his name only.

To purchase the home we used $10,000 from the sale of his previous home. I contributed approx. $5,000 to cover final repairs of the previous home, inspections and moving expenses, etc. We have done significant work on the home since moving in using the remaining fund from his home. In our daily expenses I contribute more to the household since I make more money.

Now that I have decided to leave him I would like to know if I am entitled to any of the equity we have built into the home. He doesn't think so. I feel that I have been a contibuting partner and while he did invest more lump sum dollars, I have certainly paid my share and done my share of the labor.

If I have any rights I might see an attorney, I just can't afford to wast the money if I have no case.

[HomeGuru]

Originally posted by khope
What is the name of your state? Florida
My ex-husband and I purchased a home together 2 years ago. Both our names are on the title to the property, however during the weeks leading up to closing an issue came up on my credit report (an old judgement) that would have delayed us. At that point we had the mortgage put through in his name only.

To purchase the home we used $10,000 from the sale of his previous home. I contributed approx. $5,000 to cover final repairs of the previous home, inspections and moving expenses, etc. We have done significant work on the home since moving in using the remaining fund from his home. In our daily expenses I contribute more to the household since I make more money.

Now that I have decided to leave him I would like to know if I am entitled to any of the equity we have built into the home. He doesn't think so. I feel that I have been a contibuting partner and while he did invest more lump sum dollars, I have certainly paid my share and done my share of the labor.

If I have any rights I might see an attorney, I just can't afford to wast the money if I have no case.

**A: is your name currently on title?

Yes, I am on the title to the property.

[HomeGuru]

Originally posted by khope
Yes, I am on the title to the property.

**A: then you are an owner of the property at 50% equity , if there is no precentage listed on the deed.

Ok, so should I retain a lawyer do you think? I've asked him for $10,000. With that I would take my name off the title. He refused.

I am not greedy. I just wanted enough to put down on a home of my own. I am not sure what my next step should be. Can I move out without hurting my position? He has been causing my daughter and I a great deal of mental anguish and I don't want to have to stay until I get this straightened out.

Thank you very much for your advice.

[HomeGuru]

Originally posted by khope
Ok, so should I retain a lawyer do you think? I've asked him for $10,000. With that I would take my name off the title. He refused.

I am not greedy. I just wanted enough to put down on a home of my own. I am not sure what my next step should be. Can I move out without hurting my position? He has been causing my daughter and I a great deal of mental anguish and I don't want to have to stay until I get this straightened out.

Thank you very much for your advice.

**A: how much equity is in the property? Ask for half, and if no dice then file an action for partition. Please clear one thing up. You both bought the property together AFTER your divorce was final?

Yes. We have been together for 10 years in March. We were married at the 5 yr mark but ended it after 8 months. No explanation except were both very independent people who don't play well with others.

I guess I need to have an appraisal done on the property. We got a great deal because it needed so much work. Based on the market I estimate about $40,000 in equity at this time. Maybe a little more.

[HomeGuru]

Originally posted by khope
Yes. We have been together for 10 years in March. We were married at the 5 yr mark but ended it after 8 months. No explanation except were both very independent people who don't play well with others.

I guess I need to have an appraisal done on the property. We got a great deal because it needed so much work. Based on the market I estimate about $40,000 in equity at this time. Maybe a little more.

**A: then pursuant to Flordia law, your share is approx. $20K

Thank you for the advice. Are you an attorney?

[HomeGuru]

Originally posted by khope
Thank you for the advice. Are you an attorney?

**A: yes, at least the last time I read my profile it said that.

Well, I think its awesome that you help people out like this! I am sure your a very good lawyer.

Thank you!

[HomeGuru]

Your kind words are much appreciated.

I have one last question for you! If I move out do I give up any of my rights?

Either way I have to move but I wanted to know.

Thank you again!

[HomeGuru]

[quote]Originally posted by khope
[b]I have one last question for you! If I move out do I give up any of my rights?

**A: no.
******
Either way I have to move but I wanted to know.

Thank you again!

**A: although you are a legal owner, your true equity is subject to negotiation. Ex: if you moved out and did not pay the mortgage payments and other expenses. Such expenses would be deducted from your equity share.

I have a very similar situation, house is located in California. We broke up after having the house together 4 1/2 years( both of us paying the mortgage) He had agreed to pay me my share within one year, has now been almost 4 years, he is unwilling to refinance or sell, will not return my calls. I am first on the mortgage if this matters.

How much will a partition action cost? Can I file this without a lawyer? Can any expenses be deducted from the profit of the sale of the home or can the other party be made responsible for the expenses as he is not cooperative? Can I get an added amount as now I will owe taxes on money earned (tax guy told me that after 3 years of leaving the home this is owed).

Thank You for your response.