Own A House With Boyfriend Relationship Over Question About Equity Division

[bigalcalbisque]

Clarification

Ohio Girl, It is my business as my Daughter asked me to post on this website for her.
I understand that he is entitled to half of the equity of the home, I totally get it!
Forget all the outlying issues except:
If the value of the property increases $10,000 in the next 10 months due to market conditions is he entitled by law to 1/2 of that equity also, if they have not come to terms on an agreement. That's it, don't think about anything else, don't think about the mortgage, don't think about the appraisal, don't think that I am the Dad and should BUTT out! Don't think about Lawyer fees! Everything else as of this moment in time doesn't matter to me. Just that simple question. That's all I am asking
Yes or No.

 

[HRZ]

I am not so sure he is liable for 1/2 of anything...absent a separate written contract for same ....odds are they are jointly and separately responsible for the whole....and the lender, tax collector, water , insurance entities don't care who pays just so. long as bills are paid .

I happened to be in court behind a waring unmarried couple ..and sage old judge opined that person in possession got to pay all the bills ...at which point the remaining person rushed to get out as well and put the place up for sale

 

[justalayman]

I'd say that one of the issues in offering an answer is... as Stephan observed, what is the question?

What does the ex-boyfriend want? Part of negotiating a resolution requires each side having a starting point, and working towards something somewhere between.

Negotiations do not alter the underlying legal fact that boyfriend is entitled to 1/2 of the equity in the home. It doesn’t change that the amount of equity held will increase equal to the op’s daughter’s share b

 

[HRZ]

Conversly if lightening strikes or the neighborhood takes a turn for the worse ...everyone's equity numbers take a hit .

Dad, IF daughter is enamored with the home and EXBF knows you are backing her financial options then you two just handed BF a strong set of cards if he chooses to play same...and right now neither of you seems to have a clue as to what he wants .

Your daughter did not listen earlier and it is unlikely that she got smarter just now ...but it's HER problem to resolve and you need to be careful not to throw good money after bad, so why not BUT OUT .

 

[not2cleverRed]

Negotiations do not alter the underlying legal fact that boyfriend is entitled to 1/2 of the equity in the home. It doesn’t change that the amount of equity held will increase equal to the op’s daughter’s share b

I agree.

What I am confused about is what the ex-boyfriend's disagreement is. I can understand him not wanting to pay any of the bills for a house that he no longer lives in. So, the issue is then either sell the house now, split everything 50/50 and walk away, or OP's daughter could pay him his share of the equity and refinance the mortgage in her name only. In either case, get his name and financial obligation off the place, and get whatever his share (50% share)of the equity is. Is *he* against getting his 50% now, because 10 months from now, when school is getting out, the market value *might* be higher?

 

[Ohiogal]

I agree.

What I am confused about is what the ex-boyfriend's disagreement is. I can understand him not wanting to pay any of the bills for a house that he no longer lives in. So, the issue is then either sell the house now, split everything 50/50 and walk away, or OP's daughter could pay him his share of the equity and refinance the mortgage in her name only. In either case, get his name and financial obligation off the place, and get whatever his share (50% share)of the equity is. Is *he* against getting his 50% now, because 10 months from now, when school is getting out, the market value *might* be higher?

He is telling his daughter not to pay the boyfriend 50% of the equity after refinancing with a quit claim deed attached. Bet he thinks his daughter needs him to step in because he is a MAN. Nope.

 

[bigalcalbisque]

Problem Resolved

I originally posted that I was in "California". What business is of yours to be advising me from the State of Ohio. Let me guess, you didn't notice that. The only person that I am pissed off at, is myself for once again doing the same thing over & over again and expecting different results.

 

[LdiJ]

I agree.

What I am confused about is what the ex-boyfriend's disagreement is. I can understand him not wanting to pay any of the bills for a house that he no longer lives in. So, the issue is then either sell the house now, split everything 50/50 and walk away, or OP's daughter could pay him his share of the equity and refinance the mortgage in her name only. In either case, get his name and financial obligation off the place, and get whatever his share (50% share)of the equity is. Is *he* against getting his 50% now, because 10 months from now, when school is getting out, the market value *might* be higher?

Some people actually believe that they should get 1/2 of the value of the home, not 1/2 of the equity. Its illogical but not rare. That may be what is going on. In the alternative, they may have offered him 1/2 of the equity in exchange for a quit claim deed, but did not include a refinance to get him off the mortgage. The third possibility is that he made a down payment that is more than 1/2 of the equity, and he wants his entire down payment back.

OP, which one is it?