real estate

[jelder]

Me and my oldest friend bought a duplex income property in 1986. We decided to sell the profit is $70,000 each but I haven't seen my half yet . I am not on title, we both gave equal down and our parents and everyone is aware, he said he would give me the money but i am still waiting and don't know if to worry about a lawsuit.

Please advise and estimate fee (property in San diego county)

 

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by jelder:
Me and my oldest friend bought a duplex income property in 1986. We decided to sell the profit is $70,000 each but I haven't seen my half yet . I am not on title, we both gave equal down and our parents and everyone is aware, he said he would give me the money but i am still waiting and don't know if to worry about a lawsuit.

Please advise and estimate fee (property in San diego county)<HR></BLOCKQUOTE>

If you did not go through escrow or a closing attorney, you may have some serious problems. How was the property sold and closed? Did you sign a deed transfering ownership?

 

[jelder]

Yes the property went thru escrow in 1986 I do have the copy of the hud one.

 

[jelder]

By the way the property was never in my name. My friend sold had it listed escrow closed in june he assured me my half but it's not there.

 

[Tracey]

You're going to have to sue him. I hope you can document every penny you put into the place so you can prove you should have a 50% equitable title. Get the suit going quickly before he spends your money.

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.