I am currently on a home title with an ex fiance and I was wondering since I have been paying the mortgage on the house and the property taxes (he is not living in the house, I am in pocession) for 2 years going on 3, when the home is sold, can i take more of a cut of the profits since I am the one maintaining the house, and paying the above? Also If I add value to the house by doing improvements, can I take a cut from his profit of the sale of the home as well?
2007-10-30 08:22:17 · 4 answers · asked by Victor D 2 in Business & Finance ➔ Renting & Real Estate
His legal entitlement (half the house) does not change and who pays the mortgage, who paid for improvements, etc also have no effect.
The house is 1/2 his, he will get 50% at close unless he agrees to give you a higher amount.
2007-10-30 08:31:06 · answer #1 · answered by Landlord 7 · 2⤊ 0⤋
He can make it very miserable on you by not signing paperwork if you do not give him what he considers his fair share. Why not buy him out and be done with it and refi in your name alone?
Please say he is on the loan with you and not JUST the title.
2007-10-30 08:28:33 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Only with the agreement of the ex-fiance. Absent any contractual agreements, proceeds will be divided equally.
2007-10-30 08:30:09 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
if i were you i would get a line of credit or use what ever i have in my savings give him what you and him can agree on that way he doesnt feel cheated for the time he did help you out and then refi refi refi
2007-10-30 10:05:00 · answer #4 · answered by lizgas 4 · 0⤊ 0⤋