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Survivorship Deed

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Mimilobo

Junior Member
What is the name of your state?Ga.
My fiancee and I bought a house together (HIS money for the down payment)-in Ga.-and put it in a "survivorship deed" so our kids could not interfere from previous marriages--things did not work out and I moved back home to Ohio after 14 months and now he wants me to quit-claim deed the house and I refuse unless he gives me a settlement. he says he has willed the house to his children when he dies--would this be legal??? Thanks for any information you may have on this subject. He is making the payments on it as he refused to sell it when I wanted to and divide the profits-he believes I have NO right to anything since it was his $$ that made the down payment BUT this was the reason I agreed to the survivorship deed in case things did not work out after I had retired from my $40,000. a year job.
 


BelizeBreeze

Senior Member
Mimilobo said:
What is the name of your state?Ga.
My fiancee and I bought a house together (HIS money for the down payment)-in Ga.-and put it in a "survivorship deed" so our kids could not interfere from previous marriages--things did not work out and I moved back home to Ohio after 14 months and now he wants me to quit-claim deed the house and I refuse unless he gives me a settlement. he says he has willed the house to his children when he dies--would this be legal???
Nope. JTROWS means that if anything happens to either of you the other immediately owns the home. So, he has willed something he does not yet own until something happens to you and you die first.
Mimilobo said:
He is making the payments on it as he refused to sell it when I wanted to and divide the profits-he believes I have NO right to anything since it was his $$ that made the down payment BUT this was the reason I agreed to the survivorship deed in case things did not work out after I had retired from my $40,000. a year job.
Send him a very nice CERTIFIED (RRR) letter suggesting that the two of you reach a very fair and fast settlement otherwise you will be force to file PARTITION and force the sale of the home.

Oh, and be sure to add that a partition suit ONLY disposes of the deed, NOT the mortgage, so if he is the only one on the mortgage, he'll be paying for this home for awhile.

If the mortgage is in both your names, then ONLY the portion of the sale over the mortgage amount will be split.
 

naesatt

Member
BelizeBreeze said:
Nope. JTROWS means that if anything happens to either of you the other immediately owns the home. So, he has willed something he does not yet own until something happens to you and you die first.

Send him a very nice CERTIFIED (RRR) letter suggesting that the two of you reach a very fair and fast settlement otherwise you will be force to file PARTITION and force the sale of the home.

Oh, and be sure to add that a partition suit ONLY disposes of the deed, NOT the mortgage, so if he is the only one on the mortgage, he'll be paying for this home for awhile.

If the mortgage is in both your names, then ONLY the portion of the sale over the mortgage amount will be split.
Let me see if I am understanding this......are you saying that the entire amount of the sale of the home would be split 50/50, without subtracting the mortgage balance, and the person that the mortgage's name is in would still be responsible for the mortgage?
 
S

seniorjudge

Guest
naesatt said:
Let me see if I am understanding this......are you saying that the entire amount of the sale of the home would be split 50/50, without subtracting the mortgage balance, and the person that the mortgage's name is in would still be responsible for the mortgage?
There are two kinds of partition suits:

Partition in kind (I get the west 40 acres and you get the east 40 acres) and partition by sale (the land gets sold at the courthouse steps).

After the land gets sold, any taxes due on it are paid, then the mortgage gets paid off, then the court costs and lawyer fees are taken out, and then, if there is anything left over, the former owners split the dough.

Obviously, anyone (including the current owners) can bid at the auction.
 

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