Partition Suit

[NYR]

What is the name of your state? New York

Does anyone have any experience with a Partition Suit in NY? MY ex and I broke up over 2 years ago. I moved out with his promise to assume the mortgage. 2 years later I have threatened a partition suit because he had not done anything to work toward this. He finally tried and failed to obtain any financing due to bad credit. He still refuses to move or sell. I understand the cost of a partition suit can be 5 - 10K. Does anyone know how long (average) they usually take from start to finish?

 

[lcannister]

I understand the cost of a partition suit can be 5 - 10K. Does anyone know how long (average) they usually take from start to finish?

Double/triple the cost and start thinking in terms of years not days and months.

 

[NYR]

Those were 2 estimates I got from 2 different attorneys. They said the cost depends on how much of a fight he puts up. It seems to me that he wouldn't have a case? What kind of a case could he have? Could the courts actually sympathize with him because he cannot get financing? Does it take that long to get into court in NY?

 

[NYR]

My ex now wants the following done: Add his roomate to the title, so he is part owner, then his roomate can refinance in his name only and quit-claim my ex's and my name off the deed/title. I assume my ex is going to try to buy it back from him at a later date. This is how the mortgage lender explained it to me. I need to know, if I add a third person to the title, will this make a partition suit more difficult if it came down to it?

 

[lcannister]

My ex now wants the following done: Add his roomate to the title, so he is part owner, then his roomate can refinance in his name only and quit-claim my ex's and my name off the deed/title. I assume my ex is going to try to buy it back from him at a later date. This is how the mortgage lender explained it to me. I need to know, if I add a third person to the title, will this make a partition suit more difficult if it came down to it?

Put a third parties name on the title and that 3rd person immediate OWNS 1/3 of your home. Again that 3rd party then OWNS 1/3 of your home! And that means ex and his roomate then own 2/3's of the property!

You sure that after you put room mate on the title he/she can even qualify to get the loan?

 

[LindaP777]

My ex now wants the following done: Add his roomate to the title, so he is part owner, then his roomate can refinance in his name only and quit-claim my ex's and my name off the deed/title. I assume my ex is going to try to buy it back from him at a later date. This is how the mortgage lender explained it to me. I need to know, if I add a third person to the title, will this make a partition suit more difficult if it came down to it?

Tell them you'll sell to the new roommate, and the roommate can also put your ex on the deed (or mortgage) with him.
Do this is the proper sequence and you'll be fine. Quit claim first and you might never see a refinance or any cash.

 

[NYR]

Thanks, I did tell them I wouldn’t quit-claim until the mortgage was refinanced. The roommate has already been pre-approved. I asked the ex to put something on the paperwork to add the roommate to the title to keep me at 50% owner, but he refuses. I will add it to the paperwork before all papers are signed and notarized.

I think the reason they are doing it this way is because I am insisting this get done ASAP, and this should only take about 30 days.

Thank you for all your responses!