What steps do I take to do it when he isn't willing to talk about it. I don't want to get a lawyer, but what are my rights. We are both on title and loan. Thanks!
2007-04-11 08:04:33 · 14 answers · asked by beachgirl 1 in Business & Finance ➔ Renting & Real Estate
I assume that you don't own the house outright and you are being forced to make payments on it, right?
If you stop making your half of the payment, the bank will foreclose (assuming the ex-bf doesn't or can't cover your share). This will force the sale of the house, but also ruin your credit and his.
So instead of actually doing it, perhaps you could dangle it over his head and force him into selling now while his credit is still good.
2007-04-11 08:09:43 · answer #1 · answered by mukwonago53149 5 · 0⤊ 0⤋
You may not want a lawyer but you'll have to get one to force a sale. The process is called "partition," and it is done by filing a suit for partition against your ex. The court will adjudicate your respective interests if there is any disagreement over who contributed what & order the house sold at auction. Anyone can bid. You & bf will each have a free bid up to your half interest. Anything above that must be paid in cash. You will essentially bid against each other; the high bidder paying the difference to the "loser." 99% of the time once the obstinate party realizes the other is serious s/he goes out & gets financing & the parties resolve the situation between themselves. Of course you'd better have enough equity in the place to make this procedure worth while -- it will cost a couple of thousand & you may take a bath on the sale and/or there may be re-fi costs.
2007-04-11 08:40:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Unless your husband is willing to negotiate, you have few alternatives besides litigation. As co-owners, you both have the right to possession of the entire house. Each of you also has a near-absolute right to force a sale (or split) of the property through a specialized kind of lawsuit called "partition."
Partition lawsuits are very difficult without the assistance of an attorney. If your husband decides to fight the lawsuit and take matter to trial, it can become expensive and take a long time. When faced with a partition lawsuit, the once-unwilling owner often becomes much more willing to negotiate an out-of-court solution.
Bottom line, consult a lawyer.
2007-04-11 08:19:58 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Both parties must agree to sell. You're stuck there.
You could sell your half to him, if he is interested.
I would be VERY careful here. If he stops paying on the mortgage, YOU will go down with the ship. Do NOT pay more than your half, as you will not get more than half out of the sale without a legal fight. The bank also doesn't care whether you are still connected to him or not. In their eyes, you are both 100% responsible for this loan. If he stops paying, they will come after you for ALL of it.
You NEED to see a lawyer ASAP. There could be many, MANY ways for you to get screwed in this deal.
2007-04-11 08:12:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋
All parties in title must sign the agreement to list the property for sale. If he is not willing to do so I don't think you have any alternative but to involve a lawyer.
2007-04-11 08:10:03 · answer #5 · answered by mazziatplay 5 · 0⤊ 0⤋
You have to get a lawyer. If he won't budge, then he has to buy you out of the property, and a claim has to filed in court before you can proceed in court. It won't be nice, but it is necessary, unless you want to be stuck in it. If you leave and he stops paying not only will his credit be damaged for years to come, so will yours. Get a lawyer and protect yourself as soon as you can.
2007-04-13 10:12:16 · answer #6 · answered by novastarbanker 3 · 0⤊ 0⤋
You've got 2 choices:
Quit paying, and let it foreclose if he can't pay it all on his own. Or use the non-payment to force him to sell. This would, of course, damage your credit as much as his, so it's not a great option.
Or go to court and get a judge to force the sale or refinance of the home.
There's not really many good options in a situation like this, unfortunately.
2007-04-11 08:26:06 · answer #7 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 1⤋
no. you cannot sell the house without his signature because the buyer lawyer would like a clear title for the house.
2007-04-11 08:58:03 · answer #8 · answered by Anonymous · 0⤊ 0⤋
The only way to force a sale would be to default on the mortgage and the bank will take repossession under foreclosure. This will ruin your credit and his.
2007-04-11 08:15:06 · answer #9 · answered by beachloveric 4 · 0⤊ 0⤋
You might not want a lawyer, but it would be a good idea to talk to one. The answer would depend on a number of things - where you live, how the ownership is structured, etc etc etc
2007-04-11 08:08:57 · answer #10 · answered by Judy 7 · 1⤊ 1⤋