partnerbailed
Junior Member
What is the name of your state (only U.S. law)? CA
Back in the time when real estate was great, a partner and I went in on a house to "flip". After the remodel was complete the market took a turn therefore leaving us with no option but to hang on to it.
He had intentions to build his own house from the begining so I claimed our "partner" house as my primary on the taxes then after tax rebates, would write him a check covering his portion. He claims his built house as his primary.
Well due to other circumstances he has decided to stop paying his portion of the mortgage which leaves me no option other to follow suite rather than cover his short comings. We have made 6 months of payments this last year and are still going to get rebates as a result. However the house is currently going into forclosure. So, naturally I am very angry with his decision to bail out on our business agreement which was also on a verbal level.
Question: Is he due his portion of the rebate legally since he doesn't claim it as his primary?
I have always cut him a check out of my personal account
-Historically I've paid the second mortgage and he has paid the first, so on paper he does have history of submitting payments.
Thank you in advance for any help you can provide.
Back in the time when real estate was great, a partner and I went in on a house to "flip". After the remodel was complete the market took a turn therefore leaving us with no option but to hang on to it.
He had intentions to build his own house from the begining so I claimed our "partner" house as my primary on the taxes then after tax rebates, would write him a check covering his portion. He claims his built house as his primary.
Well due to other circumstances he has decided to stop paying his portion of the mortgage which leaves me no option other to follow suite rather than cover his short comings. We have made 6 months of payments this last year and are still going to get rebates as a result. However the house is currently going into forclosure. So, naturally I am very angry with his decision to bail out on our business agreement which was also on a verbal level.
Question: Is he due his portion of the rebate legally since he doesn't claim it as his primary?
I have always cut him a check out of my personal account
-Historically I've paid the second mortgage and he has paid the first, so on paper he does have history of submitting payments.
Thank you in advance for any help you can provide.
