What is the name of your state? CA
I helped my sister and her boyfriend buy a house in January this year. He put down $78,000 and paid all the related costs but the loan and title are un my names because I had the good credit. At the time, he did not even have a SSN. The deal was that after a year, I would transfer both title and loan to both of them.
Now they have split and this is where the problems begin:
He asked her to move out because the deal was off and poor girl, she put in about 6 months of looking for this property because he was not even in the country at the time.
Prior to his arrival, I was planning on co-buying a house with her. She does not make much money and could not afford to pay a mortgage on a house by herself. She's currently paying half the mortgage on their house and to cut a long story short, the situation is not good. I have decided to put the house on the market so I get him how much he put down on it+his escrow costs but he won't hear of it. He is actually planning to sue me. His lawyer contacted me and ordered me to transfer title to his client right away and he says that I do not have a right to put it on tha market. He says my sister's ex is the equitable owner and he has rights over this property.
Meanwhile, my sister and I both feel we have been used. My husband and I had asked my sister to live with us at a subsidized cost until she got her own place, even if she owned it with me. So this guy comes along, offers to buy the property with her and they move in together and she starts paying a mortgage-helping him buy his place. I do not think it is fair that she walks out with nothing.
Is this lawyer correct? Do I not have a right to sell this house and break even? It's only been 6 months so I do not expect any profit, which is okay with me. I just want to clear my name off this nightmare deal. The lawyer says that my sister's ex actually has a right to sell. Is this true?
The guy has used us. Period!
I helped my sister and her boyfriend buy a house in January this year. He put down $78,000 and paid all the related costs but the loan and title are un my names because I had the good credit. At the time, he did not even have a SSN. The deal was that after a year, I would transfer both title and loan to both of them.
Now they have split and this is where the problems begin:
He asked her to move out because the deal was off and poor girl, she put in about 6 months of looking for this property because he was not even in the country at the time.
Prior to his arrival, I was planning on co-buying a house with her. She does not make much money and could not afford to pay a mortgage on a house by herself. She's currently paying half the mortgage on their house and to cut a long story short, the situation is not good. I have decided to put the house on the market so I get him how much he put down on it+his escrow costs but he won't hear of it. He is actually planning to sue me. His lawyer contacted me and ordered me to transfer title to his client right away and he says that I do not have a right to put it on tha market. He says my sister's ex is the equitable owner and he has rights over this property.
Meanwhile, my sister and I both feel we have been used. My husband and I had asked my sister to live with us at a subsidized cost until she got her own place, even if she owned it with me. So this guy comes along, offers to buy the property with her and they move in together and she starts paying a mortgage-helping him buy his place. I do not think it is fair that she walks out with nothing.
Is this lawyer correct? Do I not have a right to sell this house and break even? It's only been 6 months so I do not expect any profit, which is okay with me. I just want to clear my name off this nightmare deal. The lawyer says that my sister's ex actually has a right to sell. Is this true?
The guy has used us. Period!