What is the name of your state (only U.S. law)? Nevada
My father gave me a down payment for a home when I was 19. I got a mortgage and the original deed was in my name. My father had me sign a document a month after I closed on the home that turned out to be a quit claim deed to add his name to the deed. I didn't discover this until years later when I had joined the military and was living in a different state. My father had been managing the property for me & renting it out (for a fee) so I didn't make a big deal out of it. He was collecting $1,100 from renters and with that money he was making the mortgage payment of $650 directly to the bank on my behalf. As long as the mortgage was being paid, I wasn't concerned with where the rest of the money was going.
My father and I had a falling out and haven't been speaking for about six months. I checked my mortgage account online and to my surprise, my father stopped paying the mortgage two months ago. After speaking with another family member, I learned that the renters had moved out but my father made no attempt to contact me to let me know the mortgage would not be paid.
I will pay the mortgage payments to prevent further damage to my credit and possible foreclosure, but I am wondering what to do now. I honestly want to get rid of the house and end my relationship with him, however I still owe $54,000 on my mortgage. If I sell the house, will he get half of the money before the mortgage is paid off? I am willing to be fair and pay him back the down payment, but I lived in this house and made payments for six years before joining the military, plus he has been profiting off the rental for the 11 years I have been in the service. It doesn't seem fair for him to walk away with pockets full of cash and I'm left with nothing. I was counting on the money from this house to settle down with my wife and children once I retire, now it looks like I'm getting screwed.
Any insight/advice would be much appreciated.