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Buying or Selling a Home/co-owned property transferred

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Expert: - 1/19/2009


Question
About twelve years ago I went into a property ownership with a friend. A vacant parcel of land. We purchased the property together. I purchased two mobile homes which I hold bill of sales to. He helped setting up the homes for the purpose of rental property. In 2003 he stopped speaking to me and as we had agreed to use this property for rental income, I sent him 50% of the proceeds. He never claimed ownership through taxes, he refused to claim the income. In Sept. He transferred his deed to some real shady people, Actually a Class A Felon with a history of grand larceny and has spent a term of 5yrs in prison. I do not want anything to do with them. I tried to go through the courts to have them evicted from one of the two mobile homes which they moved into and was lost the case. I now recieve no rental income from either place cause the 2nd tenant left after they arrived. What can I do. Why are the courts not acknowledging my ownership of the mobile homes. The previous co-owner did not pay for these homes and we had a verbal agreement of how this property would be used. I am not wealthy enough to pay retainers to continue to fight this battle, do I just give these unwanted new owners my property and mobile homes.

Answer
Hi Mary,
WOW! What a complicated problem. I'm sorry you lost a friend over this.  As a Realtor all I can tell you is, you need a lawyer! I don't see how your friend could give their deed to this "Felon", since you say you hold Title to the properties? Depending on how your original agreement was written, will determine how you own it, and how you can dispose of it. An attorney can look at the paperwork and advise you.  Most attorneys will meet with you for a first appointment, to assess if they can help you and how, for free or a reduced rate. Call around and I'm sure you will find one you can afford. Just make sure they are a Real Estate attorney.
I'm sorry I couldn't help you more, but this really is a legal problem, more than a Real Estate question.
Good Luck,
Laurie

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Laurie Stephenson

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I can answer questions about Residential Real Estate in Upstate NY's Capital District area, from Albany to Lake George. I specialize in Saratoga Springs and the surrounding towns. I am a Buyers and Sellers Agent. Check out my website at www.lauriestephenson.com

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Residential Buyers and Sellers Agent

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Greater Capital Association of Realtors, (GCAR) New York State Association of Realtors,(NYSAR) National Association of Realtors, (NAR)

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Associate Broker

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Million Dollar Club

Past/Present Clients
My goal is to make the process of buying, selling, or owning a home efficient, enjoyable and rewarding for you. See what my clients have said about my real estate services... *Comments: Laurie was enthusiastic and supportive through the whole process. I would highly recommend her! JAC - Stillwater *Comments: My wife and I recently purchased our home with Laurie Stephenson. This purchase was difficult because we were buying a home from 3000 miles away. Laurie worked with us for several months prior to the purchase. Then, when my wife and I arrived to look at homes, she helped us get right down to business. Laurie's knowledge and expertise pertaining to the Saratoga community allowed my wife and I to find a house that was honestly, the exact home we were looking for. Laurie took our situation, our hopes and dreams, and helped us put them into perspective and find the home that was just right for our family. Laurie's dedication to our family was invaluable throughout the entire process and continues on past the closing of our home. My family and I appreciate everything that Laurie has done for us. We got the luck of the draw with Laurie, and couldn't have asked for a better real estate agent and friend. Sincerely, Randal& Shanna Thorpe *Comments: One of the most refreshing qualities about Laurie is she goes to great lengths before even showing a house to make sure her clients are qualified and she understands exactly what there looking for. Her unique ability to understand people and listen is why she's so successful. She puts her client's best interest first and assures they can buy and afford the house for years to come. As a Mortgage Broker responsible to the banks and the clients we have a perfect record and many happy homeowners. Thank you Laurie!!! Jim Teele

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