0

My ex and I split up and he moved out of the house willingly and willingly was okay with me staying in the house. I have not missed a mortgage payment. He wants his name off of the house. Unfortunately my credit has taken a toll. I have dug myself into a deep hole and am trying to figure out how to get out. Now I can't be approved to take the loan over or even find a house to rent if I do sell the home. He says that if I don’t take over the house in my name only or sell the house he will take legal action.

Can I be sued and lose against the co-owner of my house for not selling/refinancing promptly?

Improve this question
5
  • 1
    Were you married? If so, what does the divorce decree state? If you were not married, do you have a signed agreement about what happens in this case? Broadly, a co-owner can generally force a sale of the property and a splitting of proceeds in the absence of some previous agreement
    – Justin Cave
    Commented Aug 3 at 22:51
  • We were never married. and nothing was ever signed when we split up and he left the house. i don’t have a problem splitting any profit made from the sale of the house but currently i have no other place to go if we do sell.
    – Bella
    Commented Aug 3 at 23:03
  • 2
    @Bella that's something to discuss with your attorney. From your description it sounds like the ex is a co-owner and can force a sale through legal action.
    – littleadv
    Commented Aug 4 at 5:20
  • @Bella is there any kind of legal agreement in place? Are both your names on the house? Anyone else?
    – Pete B.
    Commented Aug 5 at 16:01
  • If he just wants his name off the house, he can sell or give you his share. He might be liable for gift tax, depending on the value of that share. If he wants to cash out his share, and you can't afford to buy it and are unwilling/unable to take cash and move elsewhere, you need a lawyer to read your agreements and your local laws and tell you what your options are.
    – keshlam
    Commented Aug 5 at 18:45

2 Answers 2

Reset to default
5

Laws vary by country/province/state/etc., but legal action is appropriate when co-owners can't agree on how to split an asset. If the asset is not easily divisible, like a house, then the typical result is either one party buying out the other(s), or the forced sale of the property. Rectifying this without waiting for him to involve lawyers will likely save you a good deal of money, but having someone helping ensure the distribution is equitable can be worthwhile.

There's a law stack exchange that you could ask, or contact a local attorney for additional information.

It's good to have written agreements in advance of these situations, you could legally be 50:50 owners despite having contributed/benefited from the property disproportionately.

Improve this answer
0

If I was in your shoes, I would first figure out how much equity is in the home. I'd take the likely sales price, subtract closing costs and the loan pay off at the time he left the residence.

Half of that number is about what you owe him. It may be less than you think as closing costs are pretty expensive. Lets say that the number is $5,000. I would offer him $1,000 to do a "quit claim deed", basically to get him off the property.

Of course you'd have to scrape up $1000, and get him to agree. But honestly that is a pretty good deal for the both of you. Him hiring a lawyer will eat into his profits, and you get him out of your life for good.

Improve this answer
2
  • The question seems pretty clear that former partner wants off the loan, not just off the deed. So a "quit claim" doesn't seem to be a solution.
    – Ben Voigt
    Commented Aug 5 at 19:27
  • Yeah i looked into that already but a quit claim just takes him off of the deed of the house not the loan. so that doesn’t help me
    – Bella
    Commented Aug 6 at 17:25

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .