Partition Questions

[BiTo]

What is the name of your state?What is the name of your state? Massachusetts

I am living in the house my Grandmother bought in 1957.

In 1986 I took out an equity loan of $30,000.00 to fix up the property.

In 1998 I put my domestic partner’s name on the deed after my Grandmother died and we have refinanced twice since then, owing roughly $75,000.00. The house today is worth over $300,000.00.

Now my partner and I have decided to split, and he is threatening me with a partition.

My questions are:

If he files for a partition, would he be able to collect 50% of the profit? I feel he is not entitled to a 50/50 split – for the first few years he lived here, I paid all/most of the bills and he would be reaping the benefits from my Grandmothers and my generosity.

I’m hoping I could use the value of the house as it was when I put his name on the deed (1998)

I’ve read that sometimes the judge will award the monies in different allocations. We are both are paying 50/50 on the bills.

How long can I sit and wait until the last gun is fired? – if he does this, I want it to cost him a fortune.

I don’t want to leave my home that has been in the family since day one.

Should I file a partition first with an offer to buy him out or make an offer, skipping the partition to buy him out and if he doesn’t agree then file a partition?

Love is blind, if I had known about this partition business, I would never have put his name on the deed!

Thanks!

 

[seniorjudge]

File the partition suit.

When you go to court, the judge will want to see all the bills concerning the land.

Be prepared to prove who paid what and where the money came from.

The judge will then enter a judgment stating that the land will be sold at such and such an amount and you get so much and ex gets so much.

If, at that point, you want to buy ex out, you can do it.

Of course, if you wanted to save months if not years and tons of money, you could buy ex out now.

 

[Florid-aise]

File the partition suit.

When you go to court, the judge will want to see all the bills concerning the land.

Be prepared to prove who paid what and where the money came from.

The judge will then enter a judgment stating that the land will be sold at such and such an amount and you get so much and ex gets so much.

If, at that point, you want to buy ex out, you can do it.

Of course, if you wanted to save months if not years and tons of money, you could buy ex out now.

BiTo, Only if you do not wish to leave the home that has been in the family from day one.

 

[BiTo]

BiTo, Only if you do not wish to leave the home that has been in the family from day one.

I do not understand your answer -- only what... ???

Thanx
BiTo

 

[BelizeBreeze]

I do not understand your answer -- only what... ???

Thanx
BiTo

The answer is YOU SCREWED UP! Now your 'partner' owns half of the house so to retain it, you need to purchase that half.

 

[Florid-aise]

I do not understand your answer -- only what... ???

Thanx
BiTo

SeniorJudge gave you the only sound advice necessary to avoid a difficult, expensive, and lengthy legal struggle.

I merely meant to follow that suggestion "only if you wish to....."

Or,

I cudda said it like Belize....

Both would be true.

 

[HomeGuru]

What is the name of your state?What is the name of your state? Massachusetts


Love is blind, if I had known about this partition business, I would never have put his name on the deed!

Thanks!

**A: ignorance of the law is no defense.