deanrobertson
Junior Member
What is the name of your state? What is the name of your state? Nevada
I have a home in Henderson NV I am on the title alone.
A friend promised, in 1995 to buy me out in ten years, he made all mortgage payments taxes insurance, we each put down equal amounts, but missed paying a balloon payment on time, June 30, 2005.
Now his lawyer has sent me a letter stating that the friend shares equitable ownership rights, and is a co- owner. He will sue me to sell the property and split the profit as per the promissory note he signed. I am to pay for all improvements from my half of the gain. Can they do this?
I am the sole titleholder, what is co-ownership? What is equitable ownership? Can I be forced to sell when I am the one with title?
dean
I have a home in Henderson NV I am on the title alone.
A friend promised, in 1995 to buy me out in ten years, he made all mortgage payments taxes insurance, we each put down equal amounts, but missed paying a balloon payment on time, June 30, 2005.
Now his lawyer has sent me a letter stating that the friend shares equitable ownership rights, and is a co- owner. He will sue me to sell the property and split the profit as per the promissory note he signed. I am to pay for all improvements from my half of the gain. Can they do this?
I am the sole titleholder, what is co-ownership? What is equitable ownership? Can I be forced to sell when I am the one with title?
dean