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Buying or Selling a Home/breaking up! how to devide house??
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Question
My boyfriend ad I decieded ot break up we jsut purchased a home
6 mpoonths ago I am the only one on the mortgage both our
names are on the deed. Who has rights to the house? If my
boyfriend moves out can he demand I buy him out?
Dear Christi;
Your ex-boyfriend is part owner of the home even though he has no financial obligation on the loan. That is not good! In many states that is not even allowed by the lender. I think that you need to look at your situation carefully and probably consult an attorney to discuss your ex-boyfriend's legal rights. In order for you to buy him out he would need to sign over a quit claim to you saying that he relinquishes his right and title to the house and acknowledging the money that has been paid to him. This involves a legal contract. However, if he demands that you buy him out and you don't wish to do so or cannot do so, I don't know what legal recourse he has. You are the one who is obligated to pay the mortgage and if you are collecting any money from him he might decide to withhold payment thereby hurting your ability to pay the mortgage. This may force a sale of the property. When a couple is not married there should be a contract between both parties covering these issues when they buy a property together.
Good luck,
Jessica Bryan
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Answers by Expert:
- Dick Dennis
- Jessica Bryan
- liznarr
- Hans Weber, Licensed Broker Associate
- Sue Bernstein
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- Dottie Worthington
- Jim Root
- Russel Ray
- Connie Wildasinn-Broker,GRI,RealtorŪ
- Todd C. Menard
- Diann Tonnesen
- John Hendricks
- Jay Denit
- Matt Heisler
- Lisa Webber
- John
- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
- CJ Brasiel
- Jeff Kessler
- Kathryn Hisert
- Emily
- Ted Lewis
- Kerrin Kostelic, FL Broker Associate, GRI, AHWD
- Tim Norris
Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
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