A friend had his mom put on his title to his house & he's the only son with 4 sisters, but his mom lived with him, She never gave him any money to help with mortgage or expenses, he didnt want her to stay on the strret in case he got married or moved on with his life, he didnt approve of her boyfriend because he didnt help out, (lazy, didnt even work) so she ended up moving out with the boyfriend to an apartment. 800.00 a month, bills, plus a new car note etc. Then he gets a letter from a lawyer stating that she wants HALF of what the house is worth! Because he was nice enough to put her on his title,she is taking half! But my question is... If u claim part ownership arent you supposed to be liable for half of the expenses relating to that property??? How can she get half if she never gave anything to help with the expenses and or mortgage??? I mean how can she turn around and take something she didnt help build? Can she get away with that! Stealing from her only son???
2006-09-07 08:47:23 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
He initially put her on because he had no credit and when he established his credit he was notified that he can either take his mom off or leave her on, if he wished.
2006-09-07 09:48:28 · update #1
Bottom line ... she is on the Deed so she is half owner and entitled to half the profits. It's not stealing. He GAVE her half interest in the property. The fact that he did not require a contribution on her part was his fault.
Your friend can hire a real estate attorney to negotiate a settlement with her lawyer which will probably be quite a bit less than half.
What he really should have done was left her the house in his will and kept her off the title while he is alive. He could have let her be a tenant for free or in exchange for rent without giving her half the property.
She's not "getting away with" anything, nor is she "stealing". He voluntarily gave her half interest. It's not her fault that he doesn't make decisions that are in his own best interests.
2006-09-08 00:05:53 · answer #1 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
But your question is... if you claim part ownership are you liable for at least some of the expenses?
And the answer would be: NOT NECESSARILY. People can have any arrangement they want as long as it is legal.
No one can ever say for sure what a judge will do! But -- Did your friend ever do anything to demonstrate that he was NOT gifting 1/2 the house and then the expenses each month to his mother. If you just let a situation continue then it can be construed that it is agreeable to you.
She is his !mother! after all, so a gift would not be completely out-of-the-question.
A point or two to discuss with his attorney:
There is a mortgage, so perhaps the only value he had to gift was 1/2 the equity. What was the value of the house equity at the beginning and at the end of their "arrangement". Perhaps she only has claim to 1/2 of the increase.
2006-09-07 20:45:46 · answer #2 · answered by veritas 5 · 0⤊ 0⤋
By putting her on the title he gave her 50% interest in the property. If he wants to go to court he will have to prove she had no financial stake in the property. It's a win-able scenario because it sounds like she is just looking for a payday. The bigger question is why she was put on the title in the first place. If it was a contingency of the original purchase, (cosigner for instance) than the battle gets a little harder...
2006-09-07 16:02:19 · answer #3 · answered by mga987 2 · 0⤊ 0⤋
Once an owner places someone's name on a deed as co-owner, it is presumed to be a completed gift of that interest. The presumption is rebuttable IF there is evidence it was done for some other purpose, which is not clear from your narrative. In any event, If she is entitled to half, he may be entitled to an offset for half the mortgage, taxes & insurance payments he made after the completed gift. He must consult a local attorney to evaluate his rights.
2006-09-07 16:40:41 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Here is what I know for sure.
If he died, the house would go to her. If he willed the house to someone else, they would have to go to court and sue. At best, the house would sold and the proceeds would be split in half.
She cannot force your friend to give her 1/2 of what the house is worth at the drop of a hat. But, if and when he goes to sell the house, if her name is still on the title she is intitled to 1/2 no matter what she has paid into it.
It was very foolish for your friend to put ANYONES name on the title of his house. The only way to get her name off is to get her to sign a quick claim deed. He cannot force her to sign, so who knows what it will cost him to get rid of her.
Your friend should spend the money on a good real estate lawyer.
2006-09-07 16:06:49 · answer #5 · answered by overrun_girl 4 · 1⤊ 0⤋
She can do that but it depends on if the state that she lives in is a community property state.
2006-09-07 15:51:53 · answer #6 · answered by Marianne 2 · 0⤊ 0⤋
Yes she can...Her name is on the deed regardless if she contributed or not 50% is hers...If you make it harder she can foreclose on your half which I believe it is call a "Parte" basically foreclosing on her half..pay up or loose all....Seek an attorney if you must...
Real Estate Investor...
2006-09-07 19:32:02 · answer #7 · answered by innovativeinvest@sbcglobal.net 2 · 0⤊ 0⤋
Sad but true, NEVER put ANYONE's name on the title to whom you don't want to give your equity too.
2006-09-07 15:54:27 · answer #8 · answered by Anonymous · 1⤊ 0⤋