How to calculate fair buyout? Who pays for Partition Action (forced sale)? How much?

[GawainSFO]

For CALIFORNIA,
I bought a home with a girlfriend and the title reflects a joint tenancy. {I know, i know, not the brightest move I've ever made, but my heart was speaking louder than my head.}
She has moved out and wants to be bought out, or for the home to be sold.

In her mind, she is 'legally entitled to half the anticipated equity', that is, 50% of the refinance appraisal $665K minus loans of $497,500 equals her share of anticipated equity of $83,750.00

In my mind, a refinance appraisal is just an underwriter's estimate and doesn't reflect the real value of the home. Recent comparable listings show a figure closer to $640K.

Should my buyout offer be based on the $665K appraisal or not? Should it reflect the proceeds of a sale (e.g., her portion after commissions, etc. would be closer to $50K and not $84K)?

If I can't manage an offer of $84K and she 'forces a sale' by filing for partition, is that at her expense, my expense or equally shared? She has retained a stubborn attorney, but I feel his all or nothing mentality is gonna hurt her as much as me.

I want to be fair. I don't want to shortchange her, but I don't want to unfairly give away (much) more than she really deserves as joint tenant.

Thanks in advance,
Gawain

[seniorjudge]

For this large amount of money, you need to get a good real estate attorney today.

[BelizeBreeze]

Tell her to bite rocks, then file for partition with costs taxed to defendent.

Then see how much she'll settle for.

[seniorjudge]

"Tell her to bite rocks...."

I love it!

BTW, are squabbling ex-significant others called "squothers"?

OP, that's good advice! Now get a lawyer and do it!

[GawainSFO]

BelizeBreeze, suggested "file for partition with costs taxed to defendent."

QUESTION 1: In which circumstances is this possible? It seems one joint tenant's interest not to sell is as legally compelling as the other's desire to see the home sold. How can costs be fairly assigned to the defendant?

QUESTION 2: What are the costs (if only, a ballpark figure)?

QUESTION 3:Is there a standard method (vs. a common sense method), I should use to calculate a mutually fair buyout amount to offer? You'll recall her attorney doesn't use common sense as much as bull sense.

Thanks!

[seniorjudge]

This is called death by even if. We have answered your question. Now go get that lawyer.

[GawainSFO]

Go get a lawyer is not an answer--at least not to the questions posed.

Can anyone offer some insight, as opposed to knee jerk answers and redirection?

sincere thanks in advance,
G.

[HomeGuru]

Go get a lawyer is not an answer--at least not to the questions posed.

Can anyone offer some insight, as opposed to knee jerk answers and redirection?

sincere thanks in advance,
G.

**A: I can offer some insight. But if you were calling those contributors knee jerks, I take exception to your use of the word knee.

signed,
cross & redirection

[seniorjudge]

Thanks, HG.

BB, I thought your "bite rocks" comment was insightful...or maybe inciteful.

Anyway, Gawain has been a tad touchy since that encounter with the Green Knight.

[HomeGuru]

Then may I suggest uising Simple Green with a dash of Pine Sol.