I need advice on separating and selling our house?

What is the name of your state (only U.S. law)? Texas

My fiancée and I are going to call it quits. We just bought a house together a year ago. We did receive the government first time home buyers benefits of $8,000. We have a few things that we have purchased together throughout our time together. I'm not for sure how to go about the whole house sittuation and splitting things up. I'm trying to not get lawyers and stuff involved cause we are short on money. I just don't wanna be screwed. How should we go about selling our house? If I were to go ahead and move out I cannot afford to pay even though I'm not living there. Please somebody give me addvice!!! Thanks

What does your BF say about it? Is he in agreement?

Whose name is on the title and on the mortgage?

You should also check the loan docs to see if you need to pay back some or all of the credit if you don't stay there for a certain time - or Ld will know.

mistoffolees said:

What does your BF say about it? Is he in agreement?

Whose name is on the title and on the mortgage?

You should also check the loan docs to see if you need to pay back some or all of the credit if you don't stay there for a certain time - or Ld will know.

Click to expand...

Technically yes, you have to pay back the credit if it ceases to be your personal residence prior to 36 months. However, if you take a loss on the house, and they almost certainly will, that waives the payback. Your payback is limited to your capital gain.

However, if they are one of the rare people who do not end up with a loss, they have to pay it back to the extent of their gain.

I am actually the BF. The mortgage is in both of our names. We agree that we don't wanna be together anymore. I'm not for sure what her thoughts are on the house. We need to talk about it but that's not going to happen. There is no talking to her without fighting or her not listoning to what we are going to do. One thing is for sure though, I want out and to get ride of the house. I think we have to live there for 3 years because of the tax credit or we have to pay it back. But I will take that loss gladly. I would just have to pay it back over time. If she decides not to do anything about the house and says she is staying then what do I do? I cannot afford to keep paying and I don't know what will happen if I move out??? I'm really confused 24 year old with no clue on how stuff works. I feel like I am stuck in a hole with no way out!!!

rje8679 said:

I am actually the BF. The mortgage is in both of our names. We agree that we don't wanna be together anymore. I'm not for sure what her thoughts are on the house. We need to talk about it but that's not going to happen. There is no talking to her without fighting or her not listoning to what we are going to do. One thing is for sure though, I want out and to get ride of the house. I think we have to live there for 3 years because of the tax credit or we have to pay it back. But I will take that loss gladly. I would just have to pay it back over time. If she decides not to do anything about the house and says she is staying then what do I do? I cannot afford to keep paying and I don't know what will happen if I move out??? I'm really confused 24 year old with no clue on how stuff works. I feel like I am stuck in a hole with no way out!!!

Click to expand...

Can she afford to pay the payment by herself?

rje8679 said:

I am actually the BF.

Click to expand...

Just so you know for the future:



Definitions of fiancée on the Web:

* a woman who is engaged to be married
wordnetweb.princeton.edu/perl/webwn

rje8679 said:

I am actually the BF. The mortgage is in both of our names. We agree that we don't wanna be together anymore. I'm not for sure what her thoughts are on the house. We need to talk about it but that's not going to happen. There is no talking to her without fighting or her not listoning to what we are going to do. One thing is for sure though, I want out and to get ride of the house. I think we have to live there for 3 years because of the tax credit or we have to pay it back. But I will take that loss gladly. I would just have to pay it back over time. If she decides not to do anything about the house and says she is staying then what do I do? I cannot afford to keep paying and I don't know what will happen if I move out??? I'm really confused 24 year old with no clue on how stuff works. I feel like I am stuck in a hole with no way out!!!

Click to expand...

Why in the world would you buy a house with someone when you don't have any idea how it works? Sheesh.

Since your name is on the mortgage, you are responsible for paying it - even if you move out. (She is responsible, too, but you can't control that very easily).

If she can afford to keep the house, then you should ask that she refinance it in her name before you transfer your share over to her (probably via a quit claim deed).

If she can't afford to keep it or won't refinance, then you should try to talk her into selling it. Even if you take a loss, it's better than being stuck with mortgage payments you can't afford.

If she won't agree to sell it, then you're stuck with a messy and expensive partition lawsuit in order to sell your share, but you still have the mortgage to deal with.

In the future, do not buy property with someone you're not married to.

YES I defiantly know that now!!! We have been together for about 3 + years and were just madly in love!!! Well, not anymore. Seems like every sense we got our house everything has fallen apart. I want to talk to her about the situation and what we are going to do but she will not listen and she is being very difficult. I just want out!!! I dont want to get screwed and her either. I just dont know what her intentions are.
So I guess if we agree to sell the house then great. But if she is being difficult and saying she isnt selling then does that mean I am stuck???

rje8679 said:

YES I defiantly know that now!!! We have been together for about 3 + years and were just madly in love!!! Well, not anymore. Seems like every sense we got our house everything has fallen apart. I want to talk to her about the situation and what we are going to do but she will not listen and she is being very difficult. I just want out!!! I dont want to get screwed and her either. I just dont know what her intentions are.
So I guess if we agree to sell the house then great. But if she is being difficult and saying she isnt selling then does that mean I am stuck???

Click to expand...

Unless you take it to court for a partition suit yes, or unless she agrees to some other method of handling the house (such as getting roommates to help offset the mortgage).

rje8679 said:

But if she is being difficult and saying she isnt selling then does that mean I am stuck???

Click to expand...

Not necessarily, but it DOES mean it's time to get a lawyer.