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Home owned by two parties

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Tk620

Junior Member
What is the name of your state?What is the name of your state? IL
bought a home with my partner in 1995. In 2002 she agreed to buy me out so I moved out. We verbally agreed on an amount. However, she did not have the money after I moved out. She has been paying me some of the money, but at no interest and now the house has gained more equity. I have been taking half the mortgage and taxes off my taxes each year.
I would now just like to move back into the property and pay her back what she paid me. Can I do this or do I need to go to court to move back in.
 


Shel77

Member
I tried to find the orgional post to reply to and could not. Anyhow even if she failed to hold up to her end of the agreement and did not pay you the agreed upon amount, what makes you think you can just pay her back the portion she paid you and then move back in? Do you mean that you would both live there since you would again each be 50/50 owners? Surly you are thinking the house would be your 100% by just paying back the amount she has paid you. If you were to go about something like that you would have to now buy her out and chances are she would want half of what the house is now worth not the amount it was worth back when you orgionally made the agreement. In otherwords if the house was worth 250k back when this agreement was made and she agreed to pay you 125k and she only paid 5k of that you can't pay her 5k and say ok now the house is mine you would need to pay 130k to buy her out. and you said the house is worth more now.
 

Shel77

Member
Also, if you signed the title over to her why are you still writing the house off on your taxes? Are still still on the title?
 

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