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My relationship of 7 years just ended, and unfortunately, we had purchased a home together on 9/2003. Upon my leaving, we had agreed to have the home appraised(which we did, paid 50/50) so that if she chose to make any further improvements in the home, she would not owe me equity beyond the date I occupied the home, and contributed to the expenses. Our verbal agreement was that she pay the house payment, and I paid any additional costs, including groceries, which added up to more than the cost of the house pmt per month. Am I 'screwed because I didn't save every grocery and personal need receipt for the past for years? Another important thing to mention is my name is on the home, but not on the loan. She is on both. Her lawyer has encouraged her to send me a monthly bill for half of the house payment on an ongoing basis. Any suggestions from anyone that may have had a similar encounter. She owes me $13,500-half the equity, so it is not a small amount!

2007-11-28 09:24:56 · 6 answers · asked by Sue O 1 in Business & Finance Renting & Real Estate

6 answers

Tell her your moving back in because your name is still on the house, and she can't force you to leave. LOL.

2007-11-28 09:32:05 · answer #1 · answered by loril_79 2 · 0 1

Does not matter who paid what it is community property, (shared ownership)you both own all. If her name is the only one on the mortgage, she is the one responsible for it and if not paid will suffer the consequences. You are an owner of the home, but the mortgage is all hers so you really have the upper hand here. You are entitled to half the proceeds or worth of the home, she is responsible for the amount that is owed on it. Simpler terms if the home is appraised at 200K you are entitled to 100K even if she owes 175K . Community property means you own 1/2 the total value, not the equity

2007-11-28 18:22:06 · answer #2 · answered by Pengy 7 · 1 0

In the words of the late Louis B. Mayer: "A verbal agreement isn't worth the paper it's written on!"

Whatever your agreement is, sit down with her & GET IT IN WRITING. Otherwise you are guaranteed to end up in a law suit sometime in the future. The reason she's sending you monthly 'bills" is because you DON'T have it in writing. And when putting it in writing don't quibble over small crap like grocery bills, etc. You'll just piss everyone off & end up in a law suit sooner rather than later. 5 years from now, the small stuff won't mean anything. As she has a lawyer you'd be well advised to get one yourself.

2007-11-28 17:37:29 · answer #3 · answered by Anonymous · 1 0

Legally, she doesn't owe you anything, since both of you still own the home. She's obligated to make the full mortgage payment. You are not. The proper way to proceed is to keep your name on the deed until she coughs up the amount upon which you agreed. If she doesn't pay, you don't relinquish ownership.

2007-11-28 17:53:47 · answer #4 · answered by acermill 7 · 0 0

You need to see an attorney. If you are not on the loan, and are on the deed, you may be eligible to collect 50% of the sales price. You can force the sale, I think they call it a partition sale.
I think you may be in a better position than you think you are.

2007-11-28 19:19:15 · answer #5 · answered by Anonymous · 0 0

Ack, you said verbal agreement. That won't get you anywhere in court.

Hire your own lawyer to see where you stand.

2007-11-28 17:29:18 · answer #6 · answered by Anonymous · 0 0

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